Knoll, Inc. (KNL) Raised to Outperform at Raymond James Financial, Inc.
Raymond James Financial, Inc. upgraded shares of Knoll, Inc. (NYSE:KNL) from a market perform rating to an outperform rating in a research report report published on Monday, MarketBeat reports. The firm currently has $20.00 price target on the business services provider’s stock.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised Knoll from a sell rating to a hold rating in a report on Monday, May 1st. ValuEngine downgraded Knoll from a buy rating to a hold rating in a report on Friday, June 2nd. Sidoti began coverage on Knoll in a report on Wednesday, August 16th. They set a buy rating and a $28.00 target price for the company. Finally, UBS AG raised Knoll from a market perform rating to an outperform rating in a report on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Knoll presently has an average rating of Buy and a consensus price target of $24.50.
Shares of Knoll (NYSE KNL) opened at 17.97 on Monday. The stock has a 50 day moving average of $18.82 and a 200 day moving average of $21.71. Knoll has a one year low of $16.57 and a one year high of $28.40. The stock has a market cap of $870.97 million, a P/E ratio of 12.40 and a beta of 0.98.
Knoll (NYSE:KNL) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.37 by $0.08. The business had revenue of $268.70 million during the quarter, compared to analyst estimates of $284.65 million. Knoll had a return on equity of 23.40% and a net margin of 6.43%. Knoll’s revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS. On average, analysts forecast that Knoll will post $1.39 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, September 14th. Knoll’s dividend payout ratio (DPR) is 41.38%.
In related news, Director Benjamin A. Pardo sold 2,200 shares of Knoll stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $19.45, for a total transaction of $42,790.00. Following the completion of the sale, the director now owns 23,773 shares of the company’s stock, valued at $462,384.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its stake in Knoll by 2.4% in the first quarter. New York State Teachers Retirement System now owns 4,300 shares of the business services provider’s stock worth $102,000 after buying an additional 100 shares during the period. Quantbot Technologies LP increased its stake in Knoll by 1,808.0% in the first quarter. Quantbot Technologies LP now owns 7,193 shares of the business services provider’s stock worth $171,000 after buying an additional 6,816 shares during the period. Strs Ohio increased its stake in Knoll by 6.0% in the second 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 period. SG Americas Securities LLC purchased a new stake in Knoll during the second quarter worth approximately $194,000. Finally, Sei Investments Co. increased its stake in Knoll by 35.1% in the first quarter. Sei Investments Co. now owns 9,016 shares of the business services provider’s stock worth $214,000 after buying an additional 2,343 shares during the period. 90.68% of the stock is owned by hedge funds and other institutional investors.
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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