Knoll (KNL) Upgraded to “Strong-Buy” at Raymond James Financial

Knoll (NYSE:KNL) was upgraded by Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a note issued to investors on Tuesday, December 26th, MarketBeat Ratings reports. The firm currently has a $26.00 price objective on the business services provider’s stock, up from their previous price objective of $23.00. Raymond James Financial’s target price indicates a potential upside of 11.35% from the stock’s previous close.

A number of other research firms have also recently issued reports on KNL. TheStreet upgraded Knoll from a “c+” rating to a “b-” rating in a research note on Friday, November 17th. UBS Group raised Knoll from a “market perform” rating to an “outperform” rating in a report on Monday, August 28th. Finally, Zacks Investment Research cut Knoll from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $26.67.

Knoll (NYSE:KNL) opened at $23.35 on Tuesday. The stock has a market cap of $1,150.00, a PE ratio of 16.68 and a beta of 1.07. Knoll has a 1-year low of $16.57 and a 1-year high of $27.48. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.61.

Knoll (NYSE:KNL) last issued its quarterly earnings data on Monday, October 23rd. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.04. The company had revenue of $291.26 million during the quarter, compared to the consensus estimate of $277.40 million. Knoll had a net margin of 6.21% and a return on equity of 21.94%. Knoll’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. equities research analysts predict that Knoll will post 1.43 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in shares of Knoll during the third quarter valued at approximately $683,000. Dean Investment Associates LLC grew its position in Knoll by 35.5% in the third quarter. Dean Investment Associates LLC now owns 325,745 shares of the business services provider’s stock valued at $6,515,000 after acquiring an additional 85,280 shares during the period. California Public Employees Retirement System grew its position in Knoll by 8.2% in the third quarter. California Public Employees Retirement System now owns 53,782 shares of the business services provider’s stock valued at $1,076,000 after acquiring an additional 4,082 shares during the period. Highbridge Capital Management LLC grew its position in Knoll by 45.1% in the third quarter. Highbridge Capital Management LLC now owns 24,538 shares of the business services provider’s stock valued at $491,000 after acquiring an additional 7,622 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Knoll by 3.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,992,197 shares of the business services provider’s stock valued at $39,844,000 after acquiring an additional 68,154 shares during the period. Institutional investors and hedge funds 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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