Knowles (NYSE:KN) Hits New 52-Week High at $21.50

Knowles Co. (NYSE:KN)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $21.50 and last traded at $21.38, with a volume of 50269 shares. The stock had previously closed at $21.13.

A number of brokerages recently issued reports on KN. Zacks Investment Research raised Knowles from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, January 13th. Roth Capital increased their price target on Knowles from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, January 12th. Colliers Securities reissued a “neutral” rating on shares of Knowles in a research report on Thursday, January 28th. Craig Hallum increased their price target on Knowles from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, January 12th. Finally, TheStreet raised Knowles from a “c” rating to a “b” rating in a report on Friday, February 5th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $21.40.

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.99 and a current ratio of 3.15. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -528.12, a P/E/G ratio of 1.95 and a beta of 1.41. The company has a fifty day moving average of $19.82 and a two-hundred day moving average of $17.07.

Knowles (NYSE:KN) last released its quarterly earnings data on Wednesday, February 3rd. The communications equipment provider reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The company had revenue of $243.20 million for the quarter, compared to the consensus estimate of $243.01 million. Knowles had a positive return on equity of 3.41% and a negative net margin of 0.33%. Equities analysts expect that Knowles Co. will post 0.46 EPS for the current fiscal year.

In related news, CFO John S. Anderson sold 5,081 shares of the firm’s stock in a transaction on Thursday, January 21st. The stock was sold at an average price of $19.95, for a total transaction of $101,365.95. Following the completion of the transaction, the chief financial officer now directly owns 71,506 shares of the company’s stock, valued at approximately $1,426,544.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Daniel J. Giesecke sold 5,000 shares of Knowles stock in a transaction dated Friday, January 22nd. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the transaction, the chief operating officer now directly owns 45,619 shares of the company’s stock, valued at $912,380. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,867 shares of company stock valued at $342,040. 4.48% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Knowles by 12.8% in the 4th quarter. BlackRock Inc. now owns 15,411,572 shares of the communications equipment provider’s stock worth $284,035,000 after acquiring an additional 1,753,672 shares in the last quarter. Ariel Investments LLC raised its position in shares of Knowles by 1.9% in the 4th quarter. Ariel Investments LLC now owns 4,648,684 shares of the communications equipment provider’s stock worth $85,675,000 after acquiring an additional 88,366 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Knowles by 3.3% in the 3rd quarter. William Blair Investment Management LLC now owns 1,381,435 shares of the communications equipment provider’s stock worth $20,583,000 after acquiring an additional 44,240 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Knowles by 1,066.2% in the 3rd quarter. Great West Life Assurance Co. Can now owns 1,272,888 shares of the communications equipment provider’s stock worth $13,902,000 after acquiring an additional 1,163,736 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Knowles by 7.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,219,619 shares of the communications equipment provider’s stock worth $18,172,000 after acquiring an additional 81,592 shares in the last quarter. 96.17% of the stock is owned by hedge funds and other institutional investors.

About Knowles (NYSE:KN)

Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions for the mobile consumer electronics, communications, medtech, defense, automotive, 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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