Knoll, Inc. (KNL) Upgraded to “Outperform” by Raymond James Financial, Inc.
Raymond James Financial, Inc. upgraded shares of Knoll, Inc. (NYSE:KNL) from a market perform rating to an outperform rating in a report issued on Monday morning. Raymond James Financial, Inc. currently has $20.00 price objective on the business services provider’s stock.
Several other research firms have also weighed in on KNL. Zacks Investment Research upgraded shares of Knoll from a sell rating to a hold rating in a report on Monday, May 1st. ValuEngine lowered shares of Knoll from a buy rating to a hold rating in a report on Friday, June 2nd. Sidoti assumed coverage on shares of 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 upgraded shares of Knoll from a market perform rating to an outperform rating in a report on Monday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $24.50.
Shares of Knoll (NYSE KNL) opened at 18.24 on Monday. The firm’s 50-day moving average price is $18.82 and its 200-day moving average price is $21.71. The stock has a market cap of $884.06 million, a P/E ratio of 12.59 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 posted its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.08. The business had revenue of $268.70 million for the quarter, compared to analyst estimates of $284.65 million. Knoll had a return on equity of 23.40% and a net margin of 6.43%. The business’s revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Equities analysts predict that Knoll will post $1.39 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Thursday, September 14th. Knoll’s dividend payout ratio (DPR) is 41.38%.
In other news, Director Benjamin A. Pardo sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $19.45, for a total value of $42,790.00. Following the sale, the director now directly owns 23,773 shares of the company’s stock, valued at approximately $462,384.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC increased its stake in Knoll by 3.0% in the fourth quarter. Teachers Advisors LLC now owns 76,185 shares of the business services provider’s stock worth $2,128,000 after buying an additional 2,189 shares during the period. First Quadrant L P CA increased its stake in Knoll by 1,874.9% in the first quarter. First Quadrant L P CA now owns 51,347 shares of the business services provider’s stock worth $1,223,000 after buying an additional 48,747 shares during the period. Camelot Portfolios LLC bought a new stake in Knoll during the first quarter worth about $251,000. Bowling Portfolio Management LLC bought a new stake in Knoll during the first quarter worth about $684,000. Finally, OLD National Bancorp IN increased its stake in Knoll by 45.6% in the first quarter. OLD National Bancorp IN now owns 13,434 shares of the business services provider’s stock worth $320,000 after buying an additional 4,210 shares during the period. 90.68% of the stock is currently owned by institutional investors and hedge funds.
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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