Zacks Investment Research upgraded shares of Knoll (NYSE:KNL) from a hold rating to a buy rating in a research report sent to investors on Tuesday. Zacks Investment Research currently has $26.00 price objective on the business services provider’s stock.
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. “
Several other research analysts also recently commented on KNL. TheStreet upgraded Knoll from a c+ rating to a b- rating in a research note on Friday, November 17th. Raymond James Financial upgraded Knoll from an outperform rating to a strong-buy rating and raised their target price for the stock from $23.00 to $26.00 in a research note on Tuesday, December 26th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Knoll currently has a consensus rating of Buy and a consensus target price of $26.67.
Shares of Knoll (KNL) traded down $0.06 during midday trading on Tuesday, reaching $23.18. The company’s stock had a trading volume of 334,921 shares, compared to its average volume of 328,562. Knoll has a fifty-two week low of $16.57 and a fifty-two week high of $27.48. The company has a current ratio of 1.31, a quick ratio of 0.62 and a debt-to-equity ratio of 0.61. The company has a market cap of $1,167.62, a P/E ratio of 16.56 and a beta of 1.07.
Knoll (NYSE:KNL) last issued its earnings results on Monday, October 23rd. The business services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. Knoll had a return on equity of 21.94% and a net margin of 6.21%. The business had revenue of $291.26 million during the quarter, compared to the consensus estimate of $277.40 million. During the same quarter last year, the company earned $0.44 EPS. The firm’s revenue was down .3% compared to the same quarter last year. equities research analysts predict that Knoll will post 1.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a $0.15 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.59%. Knoll’s payout ratio is currently 42.86%.
Large investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. raised its holdings in shares of Knoll by 29.5% in the 3rd quarter. Macquarie Group Ltd. now owns 1,795,464 shares of the business services provider’s stock valued at $35,909,000 after acquiring an additional 409,142 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Knoll by 5.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 284,187 shares of the business services provider’s stock valued at $5,698,000 after buying an additional 13,545 shares in the last quarter. First Manhattan Co. purchased a new position in shares of Knoll during the 3rd quarter valued at about $534,000. Systematic Financial Management LP raised its holdings in shares of Knoll by 18.0% during the 3rd quarter. Systematic Financial Management LP now owns 269,680 shares of the business services provider’s stock valued at $5,394,000 after buying an additional 41,083 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its holdings in shares of Knoll by 134.0% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 35,030 shares of the business services provider’s stock valued at $701,000 after buying an additional 20,059 shares in the last quarter. 90.57% of the stock is currently owned by hedge funds and other institutional investors.
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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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