ValuEngine Downgrades Knowles (KN) to Sell

Knowles (NYSE:KN) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

KN has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Knowles from a “sell” rating to a “hold” rating in a research report on Wednesday, June 13th. Dougherty & Co downgraded shares of Knowles from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 25th. Piper Jaffray Companies reiterated a “hold” rating and issued a $16.50 price objective on shares of Knowles in a research report on Wednesday, July 25th. Lake Street Capital reiterated a “buy” rating and issued a $19.00 price objective (up previously from $17.00) on shares of Knowles in a research report on Wednesday, July 25th. Finally, JPMorgan Chase & Co. downgraded shares of Knowles from a “neutral” rating to an “underweight” rating and set a $13.50 price objective for the company. in a research report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $17.50.

NYSE:KN traded down $0.21 during mid-day trading on Monday, hitting $14.63. The company’s stock had a trading volume of 939,900 shares, compared to its average volume of 1,059,656. Knowles has a 1 year low of $10.94 and a 1 year high of $18.32. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.43 and a current ratio of 2.56. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.47 and a beta of 1.02.

Knowles (NYSE:KN) last posted its quarterly earnings results on Tuesday, July 24th. The communications equipment provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.14 by $0.04. Knowles had a net margin of 13.12% and a return on equity of 6.08%. The company had revenue of $188.40 million for the quarter, compared to analyst estimates of $179.86 million. During the same period in the prior year, the company earned $0.11 earnings per share. The firm’s revenue was up 14.6% on a year-over-year basis. As a group, equities research analysts predict that Knowles will post 0.67 earnings per share for the current fiscal year.

In related news, VP Thomas G. Jackson sold 2,756 shares of the company’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $18.23, for a total transaction of $50,241.88. Following the completion of the transaction, the vice president now owns 31,375 shares in the company, valued at approximately $571,966.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael S. Polacek purchased 1,634 shares of Knowles stock in a transaction that occurred on Thursday, July 26th. The shares were bought at an average price of $18.30 per share, with a total value of $29,902.20. Following the transaction, the insider now owns 65,878 shares in the company, valued at $1,205,567.40. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 3,397 shares of company stock valued at $59,817. Insiders own 3.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in KN. Schwab Charles Investment Management Inc. raised its position in shares of Knowles by 4.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 721,423 shares of the communications equipment provider’s stock worth $9,083,000 after purchasing an additional 28,234 shares during the last quarter. Aperio Group LLC raised its position in shares of Knowles by 78.8% during the 1st quarter. Aperio Group LLC now owns 21,408 shares of the communications equipment provider’s stock worth $270,000 after purchasing an additional 9,436 shares during the last quarter. Northern Trust Corp raised its position in shares of Knowles by 0.6% during the 1st quarter. Northern Trust Corp now owns 2,106,090 shares of the communications equipment provider’s stock worth $26,517,000 after purchasing an additional 11,844 shares during the last quarter. BlackRock Inc. raised its position in shares of Knowles by 0.3% during the 1st quarter. BlackRock Inc. now owns 9,397,639 shares of the communications equipment provider’s stock worth $118,317,000 after purchasing an additional 25,896 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Knowles by 21.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,993,417 shares of the communications equipment provider’s stock valued at $75,457,000 after acquiring an additional 1,049,288 shares in the last quarter.

Knowles Company Profile

Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions to the mobile consumer electronics, industrial, defense, aerospace medical, and telecommunications markets worldwide. The company operates in two segments, Audio and Precision Devices.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Knowles (NYSE:KN)

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