Knoll Inc. (KNL) Upgraded by Zacks Investment Research to Hold
Knoll Inc. (NYSE:KNL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Knoll Inc, a leading designer and manufacturer of branded office furniture products and textiles, serves clients worldwide. Their commitment to innovation and modern design has yielded a comprehensive portfolio of products designed to provide enduring value and help clients shape their workplaces with imagination and vision. “
Several other research firms also recently commented on KNL. Seaport Global Securities initiated coverage on shares of Knoll in a research report on Friday, November 4th. They issued a “buy” rating and a $27.00 target price for the company. Raymond James Financial Inc. downgraded shares of Knoll from an “outperform” rating to a “market perform” rating in a research report on Friday, September 30th.
Knoll (NYSE:KNL) traded down 1.45% during midday trading on Wednesday, hitting $26.51. 478,165 shares of the stock traded hands. The stock has a market cap of $1.27 billion, a PE ratio of 17.43 and a beta of 1.10. The company has a 50-day moving average of $23.06 and a 200-day moving average of $24.13. Knoll has a 1-year low of $16.42 and a 1-year high of $27.30.
Knoll (NYSE:KNL) last posted its earnings results on Thursday, October 20th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The company earned $292.10 million during the quarter, compared to the consensus estimate of $274.90 million. Knoll had a net margin of 6.25% and a return on equity of 29.45%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. On average, equities analysts expect that Knoll will post $1.69 EPS for the current fiscal year.
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In related news, Director Benjamin A. Pardo sold 2,850 shares of the company’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $21.53, for a total transaction of $61,360.50. Following the completion of the sale, the director now directly owns 21,575 shares of the company’s stock, valued at approximately $464,509.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of KNL. AMP Capital Investors Ltd purchased a new stake in Knoll during the first quarter valued at about $290,000. Eqis Capital Management Inc. purchased a new stake in Knoll during the second quarter valued at about $203,000. Fox Run Management L.L.C. purchased a new stake in Knoll during the second quarter valued at about $206,000. Copper Rock Capital Partners LLC purchased a new stake in Knoll during the second quarter valued at about $21,864,000. Finally, New York State Teachers Retirement System purchased a new stake in Knoll during the second quarter valued at about $102,000. 93.92% of the stock is owned by institutional investors and hedge funds.
Knoll, Inc is a designer and manufacturer of furnishings, textiles and leather for the workplace and home. The Company operates through three segments: Office, Studio and Coverings. The Office segment includes systems, seating, storage, tables, desks and KnollExtra ergonomic accessories, as well as the international sales of its North American Office products.
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