Knowles Corporation (NYSE:KN) Rating Lowered to Sell at Zacks Investment Research

Knowles Corporation (NYSE:KN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, November 2nd.

According to Zacks, “Knowles Corporation operates as a supplier of advanced micro-acoustic, specialty components, and human interface solutions. The Company designs and manufactures acoustic products, including microphones, speakers, and receivers for the handset, tablet, and other consumer electronic markets. It also designs and manufactures electronic components used in medical and life science applications and solutions and components used in communications infrastructure and various other markets. Knowles Corporation is headquartered in Itasca, Illinois. “

Several other equities research analysts have also weighed in on KN. BidaskClub lowered Knowles Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Robert W. Baird reaffirmed a “buy” rating and issued a $20.00 target price on shares of Knowles Corporation in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.75.

Shares of Knowles Corporation (KN) traded down $0.17 on Thursday, reaching $15.89. The company had a trading volume of 414,975 shares, compared to its average volume of 793,475. Knowles Corporation has a 52-week low of $14.11 and a 52-week high of $19.90. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.39 and a quick ratio of 1.43. The company has a market capitalization of $1,446.70, a PE ratio of 23.78, a PEG ratio of 2.51 and a beta of 0.80.

Knowles Corporation (NYSE:KN) last issued its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.09. Knowles Corporation had a return on equity of 6.13% and a net margin of 0.25%. The firm had revenue of $221.70 million for the quarter, compared to analyst estimates of $220.62 million. During the same period last year, the company earned $0.37 earnings per share. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. sell-side analysts predict that Knowles Corporation will post 0.64 EPS for the current year.

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Several institutional investors and hedge funds have recently modified their holdings of KN. LS Investment Advisors LLC increased its holdings in shares of Knowles Corporation by 17.9% during the second quarter. LS Investment Advisors LLC now owns 6,953 shares of the communications equipment provider’s stock valued at $118,000 after purchasing an additional 1,056 shares during the period. Riverhead Capital Management LLC increased its holdings in shares of Knowles Corporation by 88.1% during the second quarter. Riverhead Capital Management LLC now owns 6,959 shares of the communications equipment provider’s stock valued at $118,000 after purchasing an additional 3,259 shares during the period. Capital Management Associates NY acquired a new position in shares of Knowles Corporation during the third quarter valued at $153,000. ING Groep NV acquired a new position in shares of Knowles Corporation during the second quarter valued at $184,000. Finally, Raymond James Trust N.A. increased its holdings in shares of Knowles Corporation by 9.4% during the second quarter. Raymond James Trust N.A. now owns 11,017 shares of the communications equipment provider’s stock valued at $187,000 after purchasing an additional 948 shares during the period.

About Knowles Corporation

Knowles Corporation is a global supplier of micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. The Company operates through two segments: Mobile Consumer Electronics (MCE) and Specialty Components (SC).

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