Knowles (NYSE:KN) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

Shares of Knowles Corporation (NYSE:KN) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $33.36 and traded as low as $32.65. Knowles shares last traded at $33.0080, with a volume of 455,155 shares trading hands.

Analysts Set New Price Targets

KN has been the subject of several recent research reports. Zacks Research raised Knowles from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. Weiss Ratings cut Knowles from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, November 4th. Susquehanna cut their price target on Knowles from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, October 21st. Wall Street Zen lowered Knowles from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Robert W. Baird set a $50.00 price objective on Knowles in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Knowles Stock Down 2.9%

The firm’s 50-day moving average price is $35.28 and its 200 day moving average price is $33.36. The firm has a market cap of $2.80 billion, a P/E ratio of 40.25 and a beta of 1.60. The company has a quick ratio of 1.60, a current ratio of 2.94 and a debt-to-equity ratio of 0.15.

Knowles (NYSE:KN) last released its quarterly earnings data on Thursday, October 22nd. The communications equipment provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $184.00 million for the quarter, compared to analysts’ expectations of $172.10 million. Knowles had a net margin of 10.76% and a return on equity of 11.82%. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. As a group, research analysts expect that Knowles Corporation will post 1.10 earnings per share for the current year.

Insider Transactions at Knowles

In other Knowles news, Director Cheryl Shavers sold 6,618 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $39.27, for a total value of $259,888.86. Following the completion of the transaction, the director owned 35,723 shares in the company, valued at approximately $1,402,842.21. This represents a 15.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Knowles

A number of hedge funds have recently made changes to their positions in KN. Allworth Financial LP raised its holdings in shares of Knowles by 57.8% during the third quarter. Allworth Financial LP now owns 904 shares of the communications equipment provider’s stock valued at $34,000 after buying an additional 331 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Knowles by 35.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,151 shares of the communications equipment provider’s stock worth $48,000 after buying an additional 304 shares during the period. Meeder Asset Management Inc. bought a new position in Knowles in the 1st quarter worth approximately $51,000. Integrated Wealth Concepts LLC bought a new position in Knowles in the 2nd quarter worth approximately $55,000. Finally, Farther Finance Advisors LLC grew its holdings in Knowles by 23.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,479 shares of the communications equipment provider’s stock worth $55,000 after buying an additional 282 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

Knowles Company Profile

Knowles Corporation is a global supplier of advanced electronic components and acoustic solutions. Founded in 1946, the company began by developing microphones for hearing aids and has expanded into products for medical, industrial, defense, and other specialty markets. Knowles’ offerings include components for hearing health and specialty audio, such as balanced armature receivers and microphones, as well as precision devices including capacitors and radio-frequency components. These products are used in applications where performance, reliability, and compact size are important.