MillerKnoll (NASDAQ:MLKN) Rating Lowered to Hold at StockNews.com

MillerKnoll (NASDAQ:MLKN) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

MillerKnoll Trading Down 0.4 %

NASDAQ:MLKN opened at $21.87 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.59 and a quick ratio of 0.93. The business’s 50-day simple moving average is $23.91 and its 200-day simple moving average is $25.84. MillerKnoll has a fifty-two week low of $20.89 and a fifty-two week high of $31.73. The stock has a market capitalization of $1.51 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 0.96 and a beta of 1.23.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings results on Wednesday, December 18th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The firm had revenue of $970.40 million for the quarter, compared to analyst estimates of $959.60 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts expect that MillerKnoll will post 2.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in shares of MillerKnoll by 15.3% in the second quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company’s stock valued at $106,370,000 after purchasing an additional 532,427 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its stake in MillerKnoll by 157.4% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 852,584 shares of the company’s stock valued at $21,110,000 after buying an additional 521,318 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in MillerKnoll by 12.5% during the 2nd 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 boosted its stake in shares of MillerKnoll by 127.8% during the 3rd 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 last quarter. Finally, Forager Capital Management LLC grew its holdings in shares of MillerKnoll by 45.9% in 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. 87.50% of the stock is currently owned by institutional investors.

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.