StockNews.com Downgrades MillerKnoll (NASDAQ:MLKN) to Hold

MillerKnoll (NASDAQ:MLKN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

MillerKnoll Stock Up 1.7 %

Shares of NASDAQ MLKN opened at $24.00 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.99. MillerKnoll has a 12-month low of $22.43 and a 12-month high of $31.73. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 0.93 and a beta of 1.17. The firm’s 50-day simple moving average is $26.95 and its 200 day simple moving average is $26.88.

MillerKnoll (NASDAQ:MLKN) last released its earnings results on Thursday, September 19th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The business had revenue of $861.50 million for the quarter, compared to analyst estimates of $889.38 million. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 earnings per share. On average, research analysts expect that MillerKnoll will post 2.17 earnings per share for the current fiscal year.

Institutional Trading of MillerKnoll

Several hedge funds have recently bought and sold shares of MLKN. Pacer Advisors Inc. raised its holdings in MillerKnoll by 15.3% during the 2nd quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company’s stock worth $106,370,000 after buying an additional 532,427 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of MillerKnoll by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock valued at $89,864,000 after purchasing an additional 377,121 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of MillerKnoll in the first quarter valued at approximately $7,311,000. Vanguard Group Inc. raised its holdings in shares of MillerKnoll by 2.6% in the first quarter. Vanguard Group Inc. now owns 8,987,024 shares of the company’s stock valued at $222,519,000 after purchasing an additional 226,792 shares during the last quarter. Finally, Hennessy Advisors Inc. increased its holdings in MillerKnoll by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 1,178,800 shares of the company’s stock worth $31,226,000 after buying an additional 180,500 shares during the last quarter. 87.50% of the stock is currently owned by institutional investors and hedge funds.

About MillerKnoll

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.