Knoll (KNL) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Knoll (NYSE:KNL) from a buy rating to a hold rating in a report released on Thursday 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 subject of a number of other reports. TheStreet raised shares of Knoll from a c+ rating to a b- rating in a research note on Friday, November 17th. Raymond James Financial raised shares of Knoll from an outperform rating to a strong-buy rating and lifted their price target for the stock from $23.00 to $26.00 in a research note on Tuesday, December 26th. Two 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 stock. The stock has a consensus rating of Buy and an average price target of $26.33.

Shares of Knoll (NYSE:KNL) traded down $0.09 during trading hours on Thursday, hitting $23.16. 323,900 shares of the company’s stock were exchanged, compared to its average volume of 472,900. Knoll has a 1-year low of $16.57 and a 1-year high of $28.25. The stock has a market cap of $1,147.39, a PE ratio of 16.54 and a beta of 1.07. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.61. 

Knoll (NYSE:KNL) last released its quarterly earnings results on Monday, October 23rd. The business services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. Knoll had a net margin of 6.21% and a return on equity of 21.94%. The firm had revenue of $291.26 million during the quarter, compared to analysts’ expectations of $277.40 million. During the same period in the previous year, the company earned $0.44 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. equities research analysts forecast that Knoll will post 1.43 earnings per share for the current year. 

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.59%. Knoll’s dividend payout ratio is presently 42.86%. 

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Knoll in the 2nd quarter valued at about $194,000. BNP Paribas Arbitrage SA boosted its position 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 valued at $240,000 after buying an additional 7,068 shares during the period. Petrus Trust Company LTA purchased a new stake in Knoll in the 2nd quarter valued at about $243,000. Pacad Investment Ltd. purchased a new stake in Knoll in the 2nd quarter valued at about $254,000. Finally, Ramsey Quantitative Systems purchased a new stake in Knoll in the 2nd quarter valued at about $257,000. 90.57% of the stock is owned by institutional investors.