Knoll Inc. (KNL) Upgraded to “Hold” at Zacks Investment Research
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. “
A number of other brokerages have also weighed in on KNL. Seaport Global Securities initiated coverage on shares of Knoll in a report on Friday, November 4th. They issued a buy rating and a $27.00 price objective for the company. Raymond James Financial Inc. lowered shares of Knoll from an outperform rating to a market perform rating in a report on Friday, September 30th.
Shares of Knoll (NYSE:KNL) opened at 26.51 on Wednesday. The firm’s 50 day moving average price is $22.90 and its 200 day moving average price is $24.11. Knoll has a 52-week low of $16.42 and a 52-week high of $27.17. The stock has a market cap of $1.27 billion, a P/E ratio of 17.43 and a beta of 1.10.
Knoll (NYSE:KNL) last announced its quarterly earnings data on Thursday, October 20th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Knoll had a net margin of 6.25% and a return on equity of 29.45%. The company earned $292.10 million during the quarter, compared to analyst estimates of $274.90 million. During the same period in the previous year, the business earned $0.38 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts expect that Knoll will post $1.69 EPS for the current year.
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In other Knoll news, Director Benjamin A. Pardo sold 2,850 shares of Knoll stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $21.53, for a total value of $61,360.50. Following the completion of the sale, the director now 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 at the SEC website. 2.20% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of KNL. Swiss National Bank increased its stake in shares of Knoll by 2.5% in the second quarter. Swiss National Bank now owns 82,600 shares of the company’s stock worth $2,006,000 after buying an additional 2,000 shares during the last quarter. Suntrust Banks Inc. increased its stake in shares of Knoll by 0.5% in the second quarter. Suntrust Banks Inc. now owns 85,096 shares of the company’s stock worth $2,066,000 after buying an additional 434 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp acquired a new stake in shares of Knoll during the second quarter worth about $1,057,000. Palisade Capital Management LLC NJ increased its stake in shares of Knoll by 6.4% in the second quarter. Palisade Capital Management LLC NJ now owns 196,831 shares of the company’s stock worth $4,779,000 after buying an additional 11,883 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Knoll by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 1,595,586 shares of the company’s stock worth $38,740,000 after buying an additional 43,960 shares during the last quarter. 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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