Knoll (NYSE:KNL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
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 analysts have also weighed in on KNL. TheStreet upgraded shares of Knoll from a “c+” rating to a “b-” rating in a research note on Friday, November 17th. Raymond James Financial upgraded shares of Knoll from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $23.00 to $26.00 in a research note on Tuesday, December 26th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $26.67.
Knoll (NYSE:KNL) last released its earnings results on Monday, October 23rd. The business services provider reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. Knoll had a net margin of 6.21% and a return on equity of 21.94%. The firm had revenue of $291.26 million for the quarter, compared to analyst estimates of $277.40 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. sell-side analysts forecast that Knoll will post 1.43 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in KNL. Macquarie Group Ltd. boosted its holdings in Knoll by 29.5% in the third quarter. Macquarie Group Ltd. now owns 1,795,464 shares of the business services provider’s stock valued at $35,909,000 after purchasing an additional 409,142 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Knoll by 5.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 284,187 shares of the business services provider’s stock valued at $5,698,000 after purchasing an additional 13,545 shares in the last quarter. First Manhattan Co. acquired a new position in Knoll in the third quarter valued at approximately $534,000. Systematic Financial Management LP boosted its holdings in Knoll by 18.0% in the third quarter. Systematic Financial Management LP now owns 269,680 shares of the business services provider’s stock valued at $5,394,000 after purchasing an additional 41,083 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in Knoll by 134.0% in the third quarter. Dynamic Technology Lab Private Ltd now owns 35,030 shares of the business services provider’s stock valued at $701,000 after purchasing an additional 20,059 shares in the last quarter. Hedge funds and other institutional investors own 90.57% of the company’s stock.
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Knoll Company Profile
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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