Zacks Investment Research Downgrades Knoll (KNL) to Hold

Zacks Investment Research cut shares of Knoll (NYSE:KNL) from a buy rating to a hold rating in a research note published on Friday morning.

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. “

KNL has been the topic of a number of other reports. TheStreet raised Knoll from a c+ rating to a b- rating in a report on Friday, November 17th. Raymond James Financial raised Knoll from an outperform rating to a strong-buy rating and boosted their price target for the stock from $23.00 to $26.00 in a report on Tuesday, December 26th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Knoll presently has an average rating of Buy and an average target price of $26.67.

Knoll (NYSE:KNL) opened at $23.33 on Friday. Knoll has a 12-month low of $16.57 and a 12-month high of $27.48. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.62 and a current ratio of 1.31. The firm has a market capitalization of $1,151.33, a PE ratio of 16.66 and a beta of 1.07.

Knoll (NYSE:KNL) last posted its quarterly earnings data on Monday, October 23rd. The business services provider reported $0.39 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $291.26 million for the quarter, compared to analysts’ expectations of $277.40 million. During the same period in the previous year, the firm earned $0.44 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. sell-side analysts predict that Knoll will post 1.43 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors 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 dividend on an annualized basis and a yield of 2.57%. Knoll’s dividend payout ratio is presently 42.86%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Knoll in the 2nd quarter worth approximately $194,000. BNP Paribas Arbitrage SA lifted its holdings in Knoll by 144.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,959 shares of the business services provider’s stock worth $240,000 after purchasing an additional 7,068 shares in the last quarter. Petrus Trust Company LTA purchased a new position in Knoll in the 2nd quarter worth approximately $243,000. Ramsey Quantitative Systems purchased a new position in Knoll in the 2nd quarter worth approximately $257,000. Finally, OxFORD Asset Management LLP purchased a new position in Knoll in the 2nd quarter worth approximately $275,000. 90.57% of the stock is currently owned by institutional investors.

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About Knoll

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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