Raymond James Downgrades Knoll Inc to Market Perform

Brokerage firm Raymond James Downgrades its rating on Knoll Inc(NYSE:KNL). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Raymond James was issued on Sep 30, 2016.

Knoll Inc (KNL) shares turned negative on Tuesdays trading session with the shares closing down -0.06 points or -0.27% at a volume of 9,94,023. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $22.64. The peak price level was also seen at $22.64 while the days lowest was $22.19. Finally the shares closed at $22.23. The 52-week high of the shares is $26.76 while the 52-week low is $16.42. According to the latest information available, the market cap of the company is $1,092 M.

Knoll Inc(KNL) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $294.70M. Analysts had an estimated revenue of $286.95M. Earnings per share were $0.44. Analysts had estimated an EPS of $0.42.

Several Insider Transactions has been reported to the SEC. On Aug 25, 2016, Stephen F Fisher (director) sold 5,020 shares at $25.86 per share price.Also, On Aug 10, 2016, Michael A Pollner (SVP, General Counsel & Sec.) sold 4,386 shares at $25.62 per share price.On Aug 10, 2016, Benjamin A Pardo (E.V.P.-Director of Design) sold 2,500 shares at $25.74 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company’s Studio segment includes its KnollStudio division the Company’s European subsidiaries which primarily sell KnollStudio products Richard Schultz Design and as of February 3 2014 Holly Hunt Enterprises Inc. The Coverings segment includes KnollTextiles Spinneybeck (including Filzfelt) and Edelman Leather. The Company offers its portfolio of furniture textiles and leathers across five product categories: office systems; office seating; files and storage; desks casegoods and tables and specialty products. The Company markets its products under the Knoll and HOLLY HUNT brands.

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