Zacks Investment Research upgraded shares of Knoll (NYSE:KNL) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. They currently have $25.00 price target on the business services provider’s stock.
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 equities analysts have also recently commented on KNL. Sidoti cut their target price on shares of Knoll from $31.00 to $29.00 and set a buy rating for the company in a research note on Wednesday, January 2nd. ValuEngine raised shares of Knoll from a sell rating to a hold rating in a report on Monday, February 4th. Finally, TheStreet raised shares of Knoll from a c+ rating to a b rating in a report on Friday, February 15th.
KNL stock traded up $0.60 during trading hours on Wednesday, hitting $21.74. The company’s stock had a trading volume of 303,445 shares, compared to its average volume of 257,717. The company has a quick ratio of 0.59, a current ratio of 1.22 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 11.75 and a beta of 1.34. Knoll has a 12 month low of $15.72 and a 12 month high of $24.29.
Knoll (NYSE:KNL) last issued its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. Knoll had a net margin of 5.67% and a return on equity of 24.37%. The business had revenue of $332.80 million during the quarter, compared to analysts’ expectations of $312.20 million. During the same period in the previous year, the company earned $0.35 earnings per share. Knoll’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, research analysts expect that Knoll will post 2.03 EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in Knoll by 9.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,415,849 shares of the business services provider’s stock worth $33,202,000 after acquiring an additional 127,562 shares during the last quarter. BlackRock Inc. grew its holdings in Knoll by 1.0% during the 3rd quarter. BlackRock Inc. now owns 3,244,796 shares of the business services provider’s stock worth $76,093,000 after acquiring an additional 31,023 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Knoll by 28.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 131,411 shares of the business services provider’s stock worth $3,082,000 after acquiring an additional 29,097 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Knoll by 4.1% in the 3rd quarter. Renaissance Technologies LLC now owns 232,900 shares of the business services provider’s stock valued at $5,462,000 after purchasing an additional 9,200 shares during the last quarter. Finally, MetLife Investment Advisors LLC boosted its stake in shares of Knoll by 55.0% in the 3rd quarter. MetLife Investment Advisors LLC now owns 36,853 shares of the business services provider’s stock valued at $864,000 after purchasing an additional 13,072 shares during the last quarter. 91.09% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading: What is the downside to momentum investing?
Get a free copy of the Zacks research report on Knoll (KNL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com