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 research note published on Thursday. The brokerage currently has $27.00 target price 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. “
Shares of Knoll (NYSE:KNL) opened at 22.29 on Thursday. Knoll has a 1-year low of $16.42 and a 1-year high of $26.76. The firm’s 50-day moving average price is $25.40 and its 200 day moving average price is $23.76. The stock has a market capitalization of $1.07 billion, a P/E ratio of 15.59 and a beta of 1.11.
Knoll (NYSE:KNL) last announced its quarterly earnings results 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 return on equity of 29.87% and a net margin of 6.08%. The firm earned $294.70 million during the quarter, compared to the consensus estimate of $286.95 million. During the same period in the prior year, the firm earned $0.36 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. Analysts expect that Knoll will post $1.73 EPS for the current fiscal year.
The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.69%. Knoll’s dividend payout ratio (DPR) is 41.38%.
In related news, Director Benjamin A. Pardo sold 2,500 shares of Knoll stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $25.74, for a total value of $64,350.00. Following the completion of the transaction, the director now directly owns 24,425 shares in the company, valued at $628,699.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen F. Fisher sold 5,020 shares of Knoll stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $25.86, for a total value of $129,817.20. Following the completion of the transaction, the director now owns 42,594 shares of the company’s stock, valued at $1,101,480.84. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in Knoll by 1.9% in the second quarter. Royal Bank of Canada now owns 77,942 shares of the company’s stock worth $1,893,000 after buying an additional 1,443 shares during the period. Schwab Charles Investment Management Inc. increased its position in Knoll by 0.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 217,928 shares of the company’s stock worth $5,292,000 after buying an additional 958 shares during the period. Hillsdale Investment Management Inc. purchased a new position in Knoll during the second quarter worth approximately $408,000. Numeric Investors LLC purchased a new position in Knoll during the second quarter worth approximately $11,641,000. Finally, FDx Advisors Inc. increased its position in Knoll by 7.5% in the second quarter. FDx Advisors Inc. now owns 15,836 shares of the company’s stock worth $384,000 after buying an additional 1,098 shares during the period. Institutional investors and hedge funds own 92.38% of the company’s stock.
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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