Knoll Inc. (KNL) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Knoll Inc. (NYSE:KNL) from a hold rating to a buy rating in a report issued on Thursday morning. Zacks Investment Research currently has $27.00 price objective on the 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. “
Knoll (NYSE:KNL) opened at 22.29 on Thursday. The company has a 50-day moving average price of $25.40 and a 200-day moving average price of $23.76. The firm has a market capitalization of $1.07 billion, a P/E ratio of 15.59 and a beta of 1.11. Knoll has a 1-year low of $16.42 and a 1-year high of $26.76.
Knoll (NYSE:KNL) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. Knoll had a net margin of 6.08% and a return on equity of 29.87%. The business earned $294.70 million during the quarter, compared to analyst estimates of $286.95 million. During the same quarter in the previous year, the business earned $0.36 EPS. Knoll’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that Knoll will post $1.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Tuesday, September 13th. Knoll’s payout ratio is presently 41.38%.
In related news, insider Andrew B. Cogan sold 55,054 shares of Knoll 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 owns 530,212 shares of the company’s stock, valued at approximately $13,419,665.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Benjamin A. Pardo sold 2,500 shares of Knoll stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $25.74, for a total transaction of $64,350.00. Following the completion of the sale, the director now directly owns 24,425 shares of the company’s stock, valued at approximately $628,699.50. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System acquired a new stake in Knoll during the second quarter valued at about $102,000. Acrospire Investment Management LLC raised its stake in Knoll by 404.0% in the second quarter. Acrospire Investment Management LLC now owns 4,491 shares of the company’s stock valued at $109,000 after buying an additional 3,600 shares during the last quarter. Walleye Trading LLC acquired a new stake in Knoll during the second quarter valued at about $119,000. BlackRock Japan Co. Ltd raised its stake in Knoll by 41.4% in the first quarter. BlackRock Japan Co. Ltd now owns 6,523 shares of the company’s stock valued at $141,000 after buying an additional 1,910 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Knoll by 271.1% in the second quarter. Sei Investments Co. now owns 6,569 shares of the company’s stock valued at $160,000 after buying an additional 4,799 shares during the last quarter. 92.38% of the stock is owned by institutional investors and hedge funds.
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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