Knowles (NYSE:KN) PT Raised to $23.00

Knowles (NYSE:KN) had its target price increased by equities research analysts at Craig Hallum from $20.00 to $23.00 in a report released on Tuesday, Briefing.com reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. Craig Hallum’s price target points to a potential upside of 21.24% from the stock’s current price.

KN has been the subject of a number of other research reports. Lake Street Capital raised their price objective on Knowles from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. BidaskClub upgraded Knowles from a “hold” rating to a “buy” rating in a research report on Thursday, January 7th. Zacks Investment Research downgraded Knowles from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a research report on Tuesday, November 17th. Finally, ValuEngine upgraded Knowles from a “hold” rating to a “buy” rating in a research report on Monday, October 12th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $21.67.

Knowles stock opened at $18.97 on Tuesday. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -474.13, a P/E/G ratio of 4.54 and a beta of 1.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.15 and a quick ratio of 1.99. Knowles has a fifty-two week low of $11.10 and a fifty-two week high of $21.25. The firm has a fifty day moving average price of $18.01 and a two-hundred day moving average price of $16.08.

Knowles (NYSE:KN) last posted its quarterly earnings data on Thursday, October 29th. The communications equipment provider reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. Knowles had a negative net margin of 0.33% and a positive return on equity of 3.41%. The company had revenue of $205.80 million for the quarter, compared to the consensus estimate of $202.27 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The business’s revenue was down 12.8% compared to the same quarter last year. As a group, sell-side analysts expect that Knowles will post 0.38 earnings per share for the current year.

In other news, CEO Jeffrey Niew bought 3,000 shares of the stock in a transaction dated Monday, November 2nd. The stock was bought at an average cost of $15.00 per share, with a total value of $45,000.00. Following the purchase, the chief executive officer now owns 323,914 shares of the company’s stock, valued at $4,858,710. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Donald Macleod bought 10,000 shares of the stock in a transaction dated Monday, November 2nd. The stock was purchased at an average cost of $14.80 per share, with a total value of $148,000.00. Following the completion of the purchase, the director now directly owns 110,549 shares in the company, valued at approximately $1,636,125.20. The disclosure for this purchase can be found here. Insiders own 4.48% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. acquired a new stake in shares of Knowles in the 1st quarter valued at $25,000. Point72 Hong Kong Ltd grew its stake in shares of Knowles by 71.4% during the 3rd quarter. Point72 Hong Kong Ltd now owns 2,360 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 983 shares in the last quarter. Pathstone Family Office LLC grew its stake in shares of Knowles by 61,450.0% during the 3rd quarter. Pathstone Family Office LLC now owns 6,155 shares of the communications equipment provider’s stock worth $92,000 after acquiring an additional 6,145 shares in the last quarter. 6 Meridian bought a new position in shares of Knowles during the 3rd quarter worth approximately $165,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Knowles by 39.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,849 shares of the communications equipment provider’s stock worth $177,000 after acquiring an additional 3,368 shares in the last quarter. 91.47% of the stock is owned by institutional investors.

Knowles Company Profile

Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions for the mobile consumer electronics, communications, medtech, defense, automotive, and industrial markets worldwide. It operates in two segments, Audio and Precision Devices (PD). The Audio segment designs and manufactures audio products, including microphones and balanced armature speakers, audio processors, and software and algorithms used in applications that serve the mobile, ear, and Internet of Things markets.

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Analyst Recommendations for Knowles (NYSE:KN)

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