Knoll, Inc. (KNL) Lifted to “Outperform” at Raymond James Financial, Inc.
Knoll, Inc. (NYSE:KNL) was upgraded by Raymond James Financial, Inc. from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday.
A number of other research firms also recently weighed in on KNL. Zacks Investment Research downgraded Knoll from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 1st. ValuEngine lowered Knoll from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Sidoti assumed coverage on Knoll in a report on Wednesday, August 16th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, UBS AG raised Knoll from a “market perform” rating to an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $26.00.
Shares of Knoll (NYSE KNL) traded up 3.55% during midday trading on Monday, hitting $18.39. The company’s stock had a trading volume of 343,864 shares. The stock’s 50 day moving average is $18.82 and its 200-day moving average is $21.71. The firm has a market cap of $891.33 million, a P/E ratio of 12.69 and a beta of 0.98. Knoll has a 52-week low of $16.57 and a 52-week high of $28.40.
Knoll (NYSE:KNL) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.08. Knoll had a net margin of 6.43% and a return on equity of 23.40%. The company had revenue of $268.70 million during the quarter, compared to analyst estimates of $284.65 million. During the same quarter last year, the business earned $0.44 EPS. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. Equities analysts predict that Knoll will post $1.38 EPS for the current fiscal year.
In other Knoll news, Director Benjamin A. Pardo sold 2,200 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $19.45, for a total value of $42,790.00. Following the completion of the transaction, the director now directly owns 23,773 shares of the company’s stock, valued at $462,384.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of KNL. MARSHALL WACE ASIA Ltd purchased a new position in Knoll during the first quarter valued at $2,205,000. Macquarie Group Ltd. boosted its position in Knoll by 8.9% in the first quarter. Macquarie Group Ltd. now owns 1,343,071 shares of the business services provider’s stock valued at $31,979,000 after buying an additional 109,211 shares in the last quarter. Swiss National Bank boosted its position in Knoll by 2.1% in the first quarter. Swiss National Bank now owns 81,200 shares of the business services provider’s stock valued at $1,933,000 after buying an additional 1,700 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Knoll during the first quarter valued at $12,294,000. Finally, Legato Capital Management LLC purchased a new position in Knoll during the second quarter valued at $391,000. 90.68% of the stock is owned by hedge funds and other institutional investors.
Knoll, Inc is a manufacturer of commercial and residential furniture, accessories and coverings. The Company operates through three segments: Office, Studio and Coverings. The Office segment includes a range of workplace products that address workplace planning paradigms. These products include systems furniture, seating, storage, tables, desks and KnollExtra accessories, as well as the international sales of its North American Office products.
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