Zacks Investment Research Downgrades Knoll Inc. (KNL) to Hold
Knoll Inc. (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 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. “
Knoll (NYSE:KNL) opened at 23.00 on Wednesday. The firm’s 50 day moving average price is $24.87 and its 200-day moving average price is $23.85. Knoll has a 52 week low of $16.42 and a 52 week high of $26.76. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 16.08 and a beta of 1.11.
Knoll (NYSE:KNL) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. Knoll had a net margin of 6.08% and a return on equity of 29.87%. The business had revenue of $294.70 million for the quarter, compared to analysts’ expectations of $286.95 million. During the same period in the previous year, the company posted $0.36 EPS. Knoll’s revenue was up 9.7% on a year-over-year basis. Analysts expect that Knoll will post $1.73 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Tuesday, September 13th. Knoll’s dividend payout ratio is currently 41.38%.
In other news, Director Stephen F. Fisher sold 5,020 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $25.86, for a total transaction of $129,817.20. Following the transaction, the director now directly owns 42,594 shares in the company, valued at approximately $1,101,480.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Sarah E. Nash sold 25,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $25.26, for a total transaction of $631,500.00. Following the transaction, the director now owns 57,805 shares in the company, valued at $1,460,154.30. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. OLD National Bancorp IN boosted its position in Knoll by 10.7% in the first quarter. OLD National Bancorp IN now owns 14,185 shares of the company’s stock valued at $307,000 after buying an additional 1,366 shares in the last quarter. Aperio Group LLC raised its stake in Knoll by 74.4% in the first quarter. Aperio Group LLC now owns 36,549 shares of the company’s stock valued at $791,000 after buying an additional 15,597 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in Knoll by 2.1% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 30,515 shares of the company’s stock valued at $661,000 after buying an additional 635 shares during the last quarter. Prudential Financial Inc. raised its stake in Knoll by 418.0% in the first quarter. Prudential Financial Inc. now owns 212,997 shares of the company’s stock valued at $4,612,000 after buying an additional 171,876 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in Knoll during the first quarter valued at about $498,000. Institutional investors and hedge funds own 92.38% of the company’s stock.
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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