Knoll (KNL) Cut to Hold at Zacks Investment Research

Knoll (NYSE:KNL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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 upgraded Knoll from a “c+” rating to a “b-” rating in a research note on Friday, November 17th. Raymond James Financial upgraded Knoll from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $23.00 to $26.00 in a research note on Tuesday, December 26th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $26.33.

Shares of Knoll (KNL) opened at $23.25 on Thursday. 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 has a 12 month low of $16.57 and a 12 month high of $28.25. The company has a market capitalization of $1,150.00, a PE ratio of 16.61 and a beta of 1.07.

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

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Knoll in the second quarter valued at about $194,000. BNP Paribas Arbitrage SA increased its holdings in shares of Knoll by 144.5% in the second quarter. BNP Paribas Arbitrage SA now owns 11,959 shares of the business services provider’s stock valued at $240,000 after purchasing an additional 7,068 shares during the period. Petrus Trust Company LTA acquired a new position in shares of Knoll in the second quarter valued at about $243,000. Pacad Investment Ltd. acquired a new position in shares of Knoll in the second quarter valued at about $254,000. Finally, Ramsey Quantitative Systems acquired a new stake in Knoll during the second quarter worth about $257,000. 90.57% of the stock is currently owned by institutional investors and hedge funds.

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Knoll Company Profile

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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