MillerKnoll (NASDAQ:MLKN) Upgraded at StockNews.com

StockNews.com upgraded shares of MillerKnoll (NASDAQ:MLKN) from a hold rating to a buy rating in a report issued on Wednesday.

MillerKnoll Price Performance

MillerKnoll stock opened at $21.85 on Wednesday. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 0.84 and a beta of 1.23. The company has a quick ratio of 0.99, a current ratio of 1.60 and a debt-to-equity ratio of 1.02. The business has a 50-day simple moving average of $23.62 and a 200 day simple moving average of $25.60. MillerKnoll has a 52 week low of $20.89 and a 52 week high of $31.73.

MillerKnoll (NASDAQ:MLKN) last issued its earnings results on Wednesday, December 18th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. The business had revenue of $970.40 million during the quarter, compared to analyst estimates of $959.60 million. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. MillerKnoll’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. On average, research analysts forecast that MillerKnoll will post 2.12 earnings per share for the current fiscal year.

Institutional Trading of MillerKnoll

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its holdings in MillerKnoll by 15.3% in the 2nd quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company’s stock worth $106,370,000 after purchasing an additional 532,427 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its stake in MillerKnoll by 157.4% in the third quarter. Disciplined Growth Investors Inc. MN now owns 852,584 shares of the company’s stock worth $21,110,000 after buying an additional 521,318 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in MillerKnoll by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock worth $89,864,000 after buying an additional 377,121 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in MillerKnoll by 127.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 547,540 shares of the company’s stock worth $13,557,000 after buying an additional 307,210 shares during the period. Finally, Forager Capital Management LLC boosted its position in MillerKnoll by 45.9% during the 3rd quarter. Forager Capital Management LLC now owns 953,841 shares of the company’s stock valued at $23,617,000 after acquiring an additional 300,000 shares in the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.

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.