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

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

MLKN stock opened at $21.85 on Wednesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.99 and a current ratio of 1.60. The firm has a market capitalization 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 firm has a 50 day moving average price of $23.62 and a 200-day moving average price of $25.60. MillerKnoll has a 52-week low of $20.89 and a 52-week high of $31.73.

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

Institutional Investors Weigh In On MillerKnoll

Several hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in MillerKnoll by 254.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock valued at $32,000 after purchasing an additional 862 shares in the last quarter. GAMMA Investing LLC increased its stake in MillerKnoll by 35.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock worth $41,000 after buying an additional 426 shares in the last quarter. Avior Wealth Management LLC raised its stake in MillerKnoll by 228.8% during the 4th quarter. Avior Wealth Management LLC now owns 2,081 shares of the company’s stock valued at $47,000 after purchasing an additional 1,448 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of MillerKnoll in the third quarter worth $84,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of MillerKnoll by 99.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 4,640 shares of the company’s stock valued at $112,000 after purchasing an additional 2,316 shares during the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.

MillerKnoll Company Profile

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.