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 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. downgraded 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 price-to-earnings ratio of 15.50 and a beta of 1.07. The company has a 50-day moving average price of $24.45 and a 200 day moving average price of $23.93. Knoll has a 52 week low of $16.42 and a 52 week high of $26.76.
Knoll (NYSE:KNL) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.02. The business had revenue of $294.70 million for the quarter, compared to the consensus estimate of $286.95 million. Knoll had a return on equity of 29.87% and a net margin of 6.08%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. Analysts expect that Knoll will post $1.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Tuesday, September 13th. Knoll’s dividend payout ratio is presently 41.38%.
In other Knoll news, Director Sarah E. Nash sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $25.26, for a total value of $631,500.00. Following the sale, the director now owns 57,805 shares of the company’s stock, valued at approximately $1,460,154.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew B. Cogan sold 55,054 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $25.31, for a total value of $1,393,416.74. Following the completion of the sale, the insider now directly owns 530,212 shares in the company, valued at approximately $13,419,665.72. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the stock. BlackRock Group LTD increased its stake in shares of Knoll by 27.3% in the first quarter. BlackRock Group LTD now owns 108,133 shares of the company’s stock worth $2,341,000 after buying an additional 23,216 shares in the last quarter. Silvercrest Asset Management Group LLC increased its stake in shares of Knoll by 1.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 3,036,717 shares of the company’s stock worth $65,745,000 after buying an additional 28,934 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Knoll by 87.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,823,754 shares of the company’s stock worth $39,484,000 after buying an additional 850,000 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Knoll by 11.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,050,790 shares of the company’s stock worth $44,400,000 after buying an additional 212,652 shares in the last quarter. Finally, Emerald Advisers Inc. PA increased its stake in shares of Knoll by 5.8% in the second quarter. Emerald Advisers Inc. PA now owns 856,145 shares of the company’s stock worth $20,787,000 after buying an additional 47,230 shares in the last quarter. 92.38% of the stock is currently owned by hedge funds and other institutional investors.
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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