Zacks Investment Research Lowers Knoll (NYSE:KNL) to Sell

Knoll (NYSE:KNL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

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. “

A number of other research analysts also recently commented on the company. Raymond James downgraded Knoll from a “strong-buy” rating to an “outperform” rating and set a $28.00 price objective for the company. in a research note on Monday, October 7th. ValuEngine downgraded Knoll from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. Knoll currently has an average rating of “Hold” and a consensus target price of $28.33.

KNL stock opened at $24.76 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.53 and a debt-to-equity ratio of 1.27. The firm has a market cap of $1.20 billion, a P/E ratio of 12.42 and a beta of 1.45. Knoll has a 12-month low of $15.72 and a 12-month high of $25.89. The stock’s 50 day simple moving average is $24.11 and its 200 day simple moving average is $22.20.

Knoll (NYSE:KNL) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The business had revenue of $367.30 million for the quarter, compared to analyst estimates of $339.13 million. Knoll had a return on equity of 24.27% and a net margin of 6.11%. The business’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. On average, research analysts forecast that Knoll will post 2.04 EPS for the current fiscal year.

In other news, Chairman Andrew B. Cogan sold 10,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $23.28, for a total value of $232,800.00. Following the completion of the transaction, the chairman now owns 518,713 shares of the company’s stock, valued at $12,075,638.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew B. Cogan sold 4,305 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $25.00, for a total value of $107,625.00. Following the completion of the sale, the chief executive officer now owns 528,713 shares of the company’s stock, valued at approximately $13,217,825. The disclosure for this sale can be found here. In the last three months, insiders sold 19,305 shares of company stock valued at $464,625. Company insiders own 1.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in shares of Knoll by 633.1% during the second quarter. Bank of Montreal Can now owns 4,743 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 4,096 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Knoll by 795.2% during the second quarter. Meeder Asset Management Inc. now owns 9,086 shares of the business services provider’s stock valued at $208,000 after purchasing an additional 8,071 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Knoll during the second quarter valued at $213,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Knoll during the second quarter valued at $216,000. Finally, Aperio Group LLC purchased a new stake in shares of Knoll during the second quarter valued at $232,000. Institutional investors and hedge funds own 90.61% of the company’s stock.

About Knoll

Knoll, Inc, together with its subsidiaries, designs, manufactures, markets, and sells commercial and residential furniture, accessories, and coverings for the workplace and residential markets in the United States, Canada, Europe, and internationally. The company operates through Office and Lifestyle segments.

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