Knoll Inc. (NYSE:KNL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $29.00 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 15.86% from the company’s previous close.
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. “
Separately, BB&T Corp. upped their target price on shares of Knoll from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, April 25th.
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Knoll (NYSE:KNL) traded down 3.36% during mid-day trading on Tuesday, hitting $25.03. 216,088 shares of the company’s stock were exchanged. Knoll has a 52 week low of $16.42 and a 52 week high of $26.65. The stock has a market capitalization of $1.20 billion, a P/E ratio of 17.50 and a beta of 1.11. The firm has a 50 day moving average of $25.60 and a 200 day moving average of $23.37.
Knoll (NYSE:KNL) last released its earnings results on Wednesday, July 27th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.02. The firm earned $294.70 million during the quarter, compared to analysts’ expectations of $286.95 million. Knoll had a net margin of 6.08% and a return on equity of 29.87%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS. Equities analysts forecast that Knoll will post $1.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.40%. The ex-dividend date is Tuesday, September 13th. Knoll’s payout ratio is currently 41.38%.
In other news, Director Stephen F. Fisher sold 5,020 shares of the stock in a transaction on Tuesday, August 23rd. The shares were 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 in the company, valued at approximately $1,101,480.84. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sarah E. Nash sold 25,000 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $25.26, for a total transaction of $631,500.00. Following the completion of the transaction, the director now owns 57,805 shares of the company’s stock, valued at approximately $1,460,154.30. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
Several institutional investors have made changes to their positions in KNL. Silvercrest Asset Management Group LLC boosted its position in shares of Knoll by 1.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 3,036,717 shares of the company’s stock worth $65,745,000 after buying an additional 28,934 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Knoll by 11.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,050,790 shares of the company’s stock worth $44,400,000 after buying an additional 212,652 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Knoll by 87.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,823,754 shares of the company’s stock worth $39,484,000 after buying an additional 850,000 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Knoll by 1.2% in the fourth quarter. Macquarie Group Ltd. now owns 1,619,756 shares of the company’s stock worth $30,451,000 after buying an additional 19,116 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC boosted its position in shares of Knoll by 14.1% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 929,555 shares of the company’s stock worth $20,125,000 after buying an additional 115,175 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.
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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