Knowles (NYSE:KN) Raised to “Buy” at Lake Street Capital

Lake Street Capital upgraded shares of Knowles (NYSE:KN) from a hold rating to a buy rating in a research note released on Thursday, The Fly reports. Lake Street Capital currently has $17.00 price objective on the communications equipment provider’s stock.

Several other equities analysts also recently commented on the stock. Roth Capital dropped their price objective on shares of Knowles from $23.00 to $20.00 in a research note on Tuesday, April 14th. Susquehanna Bancshares dropped their price target on shares of Knowles from $21.00 to $19.00 and set a positive rating for the company in a research note on Thursday, April 9th. Finally, Craig Hallum dropped their price target on shares of Knowles from $21.00 to $19.00 and set a buy rating for the company in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Knowles has a consensus rating of Buy and a consensus target price of $20.13.

NYSE:KN traded down $0.56 on Thursday, hitting $15.26. The company had a trading volume of 1,096,017 shares, compared to its average volume of 629,462. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 89.76, a PEG ratio of 4.07 and a beta of 1.35. The company has a current ratio of 1.91, a quick ratio of 2.12 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $15.18 and a two-hundred day moving average of $15.75. Knowles has a 52 week low of $11.10 and a 52 week high of $22.79.

Knowles (NYSE:KN) last issued its quarterly earnings data on Wednesday, July 29th. The communications equipment provider reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The business had revenue of $152.20 million during the quarter, compared to the consensus estimate of $145.41 million. Knowles had a net margin of 2.20% and a return on equity of 4.46%. The firm’s revenue was down 25.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, equities analysts forecast that Knowles will post 0.38 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. purchased a new stake in shares of Knowles in the 1st quarter valued at $25,000. UBS Group AG grew its position in Knowles by 51.5% during the 4th quarter. UBS Group AG now owns 124,706 shares of the communications equipment provider’s stock valued at $2,638,000 after purchasing an additional 42,381 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in Knowles by 2.6% during the 4th quarter. UBS Asset Management Americas Inc. now owns 97,500 shares of the communications equipment provider’s stock valued at $2,062,000 after purchasing an additional 2,459 shares during the last quarter. Man Group plc grew its position in Knowles by 206.6% during the 4th quarter. Man Group plc now owns 47,115 shares of the communications equipment provider’s stock valued at $996,000 after purchasing an additional 31,750 shares during the last quarter. Finally, Mason Street Advisors LLC grew its position in Knowles by 3.1% during the 4th quarter. Mason Street Advisors LLC now owns 29,973 shares of the communications equipment provider’s stock valued at $634,000 after purchasing an additional 891 shares during the last quarter. 97.34% of the stock is currently 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, medical, defense, aerospace, 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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