Zacks Investment Research Upgrades Knoll (KNL) to “Hold”
Knoll (NYSE:KNL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
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 firms have also recently commented on KNL. ValuEngine cut shares of Knoll from a “hold” rating to a “sell” rating in a research note on Wednesday, November 7th. TheStreet cut shares of Knoll from a “b-” rating to a “c+” rating in a research note on Wednesday, December 19th.
Knoll (NYSE:KNL) last issued its quarterly earnings data on Monday, October 29th. The business services provider reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. The business had revenue of $327.70 million during the quarter, compared to analysts’ expectations of $327.67 million. Knoll had a net margin of 6.44% and a return on equity of 21.51%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. As a group, sell-side analysts expect that Knoll will post 1.79 earnings per share for the current fiscal year.
In other news, Director John F. Maypole bought 1,500 shares of the stock in a transaction on Friday, November 2nd. The stock was purchased at an average cost of $20.01 per share, with a total value of $30,015.00. Following the purchase, the director now owns 27,622 shares of the company’s stock, valued at $552,716.22. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Lido Advisors LLC purchased a new stake in Knoll in the 3rd quarter worth approximately $201,000. Trexquant Investment LP acquired a new position in shares of Knoll in the 3rd quarter valued at $206,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Knoll in the 3rd quarter valued at $316,000. Emerald Advisers Inc. PA acquired a new position in shares of Knoll in the 3rd quarter valued at $387,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Knoll by 140.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 20,200 shares of the business services provider’s stock valued at $474,000 after purchasing an additional 11,800 shares during the last quarter. 90.56% of the stock is owned by hedge funds and other institutional investors.
Knoll, Inc, together with its subsidiaries, designs, manufactures, markets, and sells commercial and residential furniture, accessories, textiles, fine leathers, and felt for the workplace and residential markets in the United States, Canada, and Europe. The company operates through three segments: Office, Studio, and Coverings.
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