StockNews.com Lowers MillerKnoll (NASDAQ:MLKN) to Buy

MillerKnoll (NASDAQ:MLKN) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

MillerKnoll Price Performance

MillerKnoll stock traded up $0.79 during midday trading on Monday, reaching $24.28. 1,327,014 shares of the company were exchanged, compared to its average volume of 644,873. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 0.99 and a beta of 1.18. The firm’s 50-day simple moving average is $28.38 and its 200-day simple moving average is $27.40. MillerKnoll has a 1 year low of $19.10 and a 1 year high of $31.73. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.92 and a current ratio of 1.53.

MillerKnoll (NASDAQ:MLKN) last posted its quarterly earnings results on Thursday, September 19th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.04). The business had revenue of $861.50 million during the quarter, compared to analysts’ expectations of $889.38 million. MillerKnoll had a net margin of 2.27% and a return on equity of 10.94%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 EPS. On average, analysts anticipate that MillerKnoll will post 2.21 EPS for the current year.

Hedge Funds Weigh In On MillerKnoll

A number of institutional investors and hedge funds have recently bought and sold shares of MLKN. Vanguard Group Inc. boosted its stake in shares of MillerKnoll by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 8,987,024 shares of the company’s stock valued at $222,519,000 after buying an additional 226,792 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of MillerKnoll by 15.3% during the 2nd quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company’s stock valued at $106,370,000 after buying an additional 532,427 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of MillerKnoll by 12.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock valued at $89,864,000 after acquiring an additional 377,121 shares in the last quarter. Hennessy Advisors Inc. raised its position in shares of MillerKnoll by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 1,178,800 shares of the company’s stock valued at $31,226,000 after acquiring an additional 180,500 shares in the last quarter. Finally, LSV Asset Management raised its position in shares of MillerKnoll by 0.7% during the 1st quarter. LSV Asset Management now owns 1,059,546 shares of the company’s stock valued at $26,234,000 after acquiring an additional 6,846 shares in the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.

MillerKnoll Company Profile

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.