Knowles Corp (NYSE:KN) Short Interest Up 13.7% in January

Knowles Corp (NYSE:KN) saw a large growth in short interest in January. As of January 31st, there was short interest totalling 6,310,000 shares, a growth of 13.7% from the January 15th total of 5,550,000 shares. Currently, 7.0% of the shares of the company are sold short. Based on an average daily volume of 701,100 shares, the days-to-cover ratio is presently 9.0 days.

A number of brokerages have commented on KN. ValuEngine cut shares of Knowles from a “hold” rating to a “sell” rating in a research note on Friday, January 10th. Craig Hallum lowered their price objective on Knowles from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Lake Street Capital dropped their target price on Knowles from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, February 5th. Finally, Piper Jaffray Companies set a $22.00 target price on Knowles and gave the stock a “hold” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Knowles has a consensus rating of “Hold” and an average target price of $21.00.

In other Knowles news, Director Ronald Steven Jankov bought 5,900 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired at an average price of $17.35 per share, with a total value of $102,365.00. Also, Director Didier Hirsch bought 3,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was acquired at an average cost of $16.11 per share, for a total transaction of $48,330.00. 3.70% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in shares of Knowles by 2.4% in the third quarter. California State Teachers Retirement System now owns 128,224 shares of the communications equipment provider’s stock valued at $2,608,000 after buying an additional 2,964 shares in the last quarter. Copper Rock Capital Partners LLC increased its position in Knowles by 1.7% in the 4th quarter. Copper Rock Capital Partners LLC now owns 911,029 shares of the communications equipment provider’s stock valued at $19,268,000 after acquiring an additional 14,997 shares in the last quarter. Sciencast Management LP acquired a new stake in Knowles in the 4th quarter valued at about $999,000. Russell Investments Group Ltd. increased its position in Knowles by 52.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 74,927 shares of the communications equipment provider’s stock valued at $1,523,000 after acquiring an additional 25,642 shares in the last quarter. Finally, BBVA USA Bancshares Inc. raised its stake in shares of Knowles by 38.7% in the third quarter. BBVA USA Bancshares Inc. now owns 29,115 shares of the communications equipment provider’s stock worth $592,000 after acquiring an additional 8,124 shares during the last quarter. 98.43% of the stock is owned by institutional investors.

Shares of NYSE:KN opened at $17.74 on Friday. The company’s fifty day moving average is $19.98 and its 200-day moving average is $20.74. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 2.56. Knowles has a 52 week low of $15.47 and a 52 week high of $22.79. The company has a market capitalization of $1.62 billion, a PE ratio of 20.73, a P/E/G ratio of 1.94 and a beta of 1.20.

Knowles (NYSE:KN) last announced its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Knowles had a return on equity of 6.38% and a net margin of 5.74%. The firm had revenue of $233.90 million for the quarter, compared to analyst estimates of $237.65 million. During the same quarter last year, the business earned $0.37 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts forecast that Knowles will post 0.91 EPS for the current year.

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.

Further Reading: How is the LIBOR rate calculated?

Receive News & Ratings for Knowles Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Knowles and related companies with MarketBeat.com's FREE daily email newsletter.