Miller Industries (NYSE:MLR) Now Covered by Analysts at DA Davidson

Equities research analysts at DA Davidson started coverage on shares of Miller Industries (NYSE:MLR) in a research note issued on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $82.00 price target on the auto parts company’s stock. DA Davidson’s target price suggests a potential upside of 36.85% from the company’s current price.

Separately, StockNews.com lowered Miller Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 12th.

Miller Industries Stock Performance

Miller Industries stock opened at $59.92 on Wednesday. The stock’s 50 day moving average price is $60.67 and its 200 day moving average price is $56.97. The firm has a market capitalization of $687.28 million, a PE ratio of 10.46 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.08. Miller Industries has a one year low of $34.96 and a one year high of $69.75.

Miller Industries (NYSE:MLR) last released its quarterly earnings results on Wednesday, August 7th. The auto parts company reported $1.78 EPS for the quarter. The firm had revenue of $371.45 million for the quarter. Miller Industries had a return on equity of 20.16% and a net margin of 5.55%.

Institutional Investors Weigh In On Miller Industries

Several institutional investors and hedge funds have recently made changes to their positions in MLR. Innealta Capital LLC acquired a new stake in shares of Miller Industries during the 2nd quarter valued at approximately $39,000. Point72 DIFC Ltd raised its position in shares of Miller Industries by 146.9% during the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock valued at $55,000 after acquiring an additional 595 shares in the last quarter. EntryPoint Capital LLC raised its position in shares of Miller Industries by 101.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock valued at $91,000 after acquiring an additional 913 shares in the last quarter. Voisard Asset Management Group Inc. acquired a new stake in shares of Miller Industries during the 4th quarter valued at approximately $107,000. Finally, Quest Partners LLC acquired a new stake in shares of Miller Industries during the 2nd quarter valued at approximately $200,000. 79.24% of the stock is owned by institutional investors and hedge funds.

About Miller Industries

Miller Industries, Inc, together with its subsidiaries, manufactures and sells towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flat-bed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.