Knoll Inc. (KNL) Stock Rating Lowered by Zacks Investment Research
Knoll Inc. (NYSE:KNL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “
Separately, Raymond James Financial Inc. lowered shares of Knoll from an “outperform” rating to a “market perform” rating in a research report on Friday, September 30th.
Shares of Knoll (NYSE:KNL) opened at 22.17 on Wednesday. The firm has a market cap of $1.07 billion, a P/E ratio of 15.50 and a beta of 1.07. The company’s 50 day moving average price is $24.45 and its 200 day moving average price is $23.93. Knoll has a 12-month low of $16.42 and a 12-month high of $26.76.
Knoll (NYSE:KNL) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $294.70 million for the quarter, compared to analysts’ expectations of $286.95 million. Knoll had a net margin of 6.08% and a return on equity of 29.87%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Equities research analysts forecast that Knoll will post $1.67 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a $0.15 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.60 annualized dividend and a yield of 2.71%. Knoll’s dividend payout ratio (DPR) is presently 41.38%.
In other Knoll news, insider Andrew B. Cogan sold 55,054 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $25.31, for a total transaction of $1,393,416.74. Following the completion of the sale, the insider now directly owns 530,212 shares in the company, valued at $13,419,665.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sarah E. Nash sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $25.26, for a total transaction of $631,500.00. Following the sale, the director now owns 57,805 shares of the company’s stock, valued at $1,460,154.30. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System acquired a new stake in Knoll during the second quarter valued at about $102,000. BNP Paribas Arbitrage SA raised its stake in Knoll by 85.6% in the third quarter. BNP Paribas Arbitrage SA now owns 4,546 shares of the company’s stock valued at $104,000 after buying an additional 2,097 shares during the last quarter. Acrospire Investment Management LLC raised its stake in Knoll by 404.0% in the second quarter. Acrospire Investment Management LLC now owns 4,491 shares of the company’s stock valued at $109,000 after buying an additional 3,600 shares during the last quarter. Walleye Trading LLC acquired a new stake in Knoll during the second quarter valued at about $119,000. Finally, BlackRock Japan Co. Ltd raised its stake in Knoll by 41.4% in the first quarter. BlackRock Japan Co. Ltd now owns 6,523 shares of the company’s stock valued at $141,000 after buying an additional 1,910 shares during the last quarter. Institutional investors and hedge funds own 92.38% of the company’s stock.
Knoll Company Profile
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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