Robert W. Baird restated their buy rating on shares of Knowles (NYSE:KN) in a research note released on Wednesday. They currently have a $18.00 price target on the communications equipment provider’s stock.
“We recently traveled with Knowles’ management, who appeared incrementally bullish on Knowles’ growth opportunities, following 9% organic growth in 2018. Knowles has begun shipments of its multicore DSP audio processor to a new customer for home video chat devices, as well as shipments of smart microphones to Oppo and Vivo. The company plans to exit 2018 well below 2x debt/EBITDA, and management noted no notable impact from tariffs so far.”,” Robert W. Baird’s analyst wrote.
Other analysts have also recently issued research reports about the company. ValuEngine upgraded Knowles from a sell rating to a hold rating in a research report on Tuesday. Zacks Investment Research upgraded Knowles from a sell rating to a hold rating in a research report on Thursday, June 28th. Piper Jaffray Companies reiterated a hold rating and set a $16.50 target price on shares of Knowles in a research report on Wednesday, July 25th. Lake Street Capital reiterated a buy rating and set a $19.00 target price (up previously from $17.00) on shares of Knowles in a research report on Wednesday, July 25th. Finally, Dougherty & Co cut Knowles from a buy rating to a neutral rating in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $17.17.
Knowles (NYSE:KN) last announced its quarterly earnings results on Tuesday, July 24th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. The company had revenue of $188.40 million during the quarter, compared to the consensus estimate of $179.86 million. Knowles had a return on equity of 6.08% and a net margin of 13.12%. Knowles’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 EPS. On average, equities research analysts expect that Knowles will post 0.67 EPS for the current fiscal year.
In other news, insider Michael S. Polacek bought 1,634 shares of the business’s stock in a transaction dated Thursday, July 26th. The shares were acquired at an average price of $18.30 per share, for a total transaction of $29,902.20. Following the completion of the transaction, the insider now owns 65,878 shares of the company’s stock, valued at $1,205,567.40. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas G. Jackson sold 2,756 shares of the business’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $18.23, for a total value 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 disclosure for this sale can be found here. Insiders have bought 3,397 shares of company stock worth $59,817 in the last quarter. Insiders own 3.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of KN. Northern Trust Corp increased its position in Knowles by 0.6% in the 1st quarter. Northern Trust Corp now owns 2,106,090 shares of the communications equipment provider’s stock valued at $26,517,000 after acquiring an additional 11,844 shares during the period. BlackRock Inc. increased its position in Knowles by 0.3% in the 1st quarter. BlackRock Inc. now owns 9,397,639 shares of the communications equipment provider’s stock valued at $118,317,000 after acquiring an additional 25,896 shares during the period. Russell Investments Group Ltd. acquired a new position in Knowles in the 1st quarter valued at about $256,000. Koch Industries Inc. acquired a new position in Knowles in the 1st quarter valued at about $213,000. Finally, Principal Financial Group Inc. increased its position in Knowles by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 378,509 shares of the communications equipment provider’s stock valued at $4,765,000 after acquiring an additional 10,366 shares during the period.
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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