MillerKnoll (NASDAQ:MLKN) Downgraded by StockNews.com to “Buy”

MillerKnoll (NASDAQ:MLKN) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.

MillerKnoll Stock Up 0.5 %

Shares of NASDAQ:MLKN traded up $0.16 during trading on Friday, hitting $29.85. 378,058 shares of the company were exchanged, compared to its average volume of 665,228. The stock has a market capitalization of $2.14 billion, a P/E ratio of 26.89, a PEG ratio of 1.07 and a beta of 1.19. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.54 and a quick ratio of 0.92. MillerKnoll has a 12-month low of $16.50 and a 12-month high of $31.33. The firm’s 50 day moving average price is $26.79 and its 200-day moving average price is $27.26.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.13. The business had revenue of $888.90 million during the quarter, compared to the consensus estimate of $898.65 million. MillerKnoll had a net margin of 2.27% and a return on equity of 10.94%. The company’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. On average, research analysts predict that MillerKnoll will post 2.21 earnings per share for the current fiscal year.

Institutional Trading of MillerKnoll

Institutional investors have recently modified their holdings of the stock. Bailard Inc. purchased a new stake in MillerKnoll in the 2nd quarter valued at $207,000. SummerHaven Investment Management LLC raised its position in MillerKnoll by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 44,779 shares of the company’s stock valued at $1,186,000 after purchasing an additional 580 shares during the last quarter. Hennessy Advisors Inc. raised its position in MillerKnoll by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,178,800 shares of the company’s stock valued at $31,226,000 after purchasing an additional 180,500 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in MillerKnoll in the 2nd quarter valued at $281,000. Finally, SG Americas Securities LLC purchased a new stake in MillerKnoll in the 2nd quarter valued at $2,633,000. 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.