Knoll, Inc. (NYSE:KNL) was the target of a large decline in short interest in October. As of October 13th, there was short interest totalling 493,683 shares, a decline of 46.3% from the September 29th total of 919,484 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 362,872 shares, the days-to-cover ratio is presently 1.4 days.
A number of hedge funds and other institutional investors have recently modified their holdings of KNL. New York State Teachers Retirement System raised its position in shares of Knoll by 2.4% in the 1st quarter. New York State Teachers Retirement System now owns 4,300 shares of the business services provider’s stock worth $102,000 after acquiring an additional 100 shares in the last quarter. Strs Ohio grew its stake in Knoll by 6.0% during the 2nd quarter. Strs Ohio now owns 8,800 shares of the business services provider’s stock worth $176,000 after buying an additional 500 shares during the last quarter. SG Americas Securities LLC purchased a new position in Knoll during the 2nd quarter worth $194,000. BNP Paribas Arbitrage SA grew its stake in Knoll by 144.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,959 shares of the business services provider’s stock valued at $240,000 after purchasing an additional 7,068 shares during the last quarter. Finally, Petrus Trust Company LTA purchased a new stake in Knoll during the 2nd quarter valued at about $243,000. 89.49% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on the company. Zacks Investment Research downgraded Knoll from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. TheStreet cut Knoll from a “b-” rating to a “c+” rating in a research note on Thursday, September 7th. Sidoti started coverage on Knoll in a research note on Wednesday, August 16th. They issued a “buy” rating and a $28.00 target price on the stock. Raymond James Financial, Inc. raised Knoll from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Monday, August 28th. Finally, UBS AG raised Knoll from a “market perform” rating to an “outperform” rating in a report on Monday, August 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $24.00.
Knoll (NYSE KNL) opened at $20.01 on Friday. The company has a market capitalization of $987.49, a P/E ratio of 13.99 and a beta of 1.07. The company has a quick ratio of 0.62, a current ratio of 1.35 and a debt-to-equity ratio of 0.70. Knoll has a 1-year low of $16.57 and a 1-year high of $28.40.
Knoll (NYSE:KNL) last issued its quarterly earnings results on Monday, October 23rd. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. Knoll had a return on equity of 22.41% and a net margin of 6.21%. The firm had revenue of $291.26 million during the quarter, compared to analyst estimates of $277.40 million. During the same period last year, the company earned $0.44 EPS. Knoll’s quarterly revenue was down .3% compared to the same quarter last year. research analysts forecast that Knoll will post 1.42 earnings per share for the current year.
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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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