MillerKnoll (NASDAQ:MLKN) Stock Rating Lowered by StockNews.com

MillerKnoll (NASDAQ:MLKN) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday.

MillerKnoll Price Performance

Shares of NASDAQ:MLKN opened at $24.68 on Monday. The company has a 50-day moving average price of $28.30 and a two-hundred day moving average price of $27.36. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.93. MillerKnoll has a twelve month low of $19.10 and a twelve month high of $31.73. The firm has a market capitalization of $1.77 billion, a PE ratio of 22.23, a P/E/G ratio of 0.99 and a beta of 1.18.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings data on Thursday, September 19th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). MillerKnoll had a net margin of 2.27% and a return on equity of 10.94%. The firm had revenue of $861.50 million during the quarter, compared to the consensus estimate of $889.38 million. During the same quarter last year, the business posted $0.37 earnings per share. MillerKnoll’s revenue was down 6.1% compared to the same quarter last year. Equities analysts forecast that MillerKnoll will post 2.21 EPS for the current year.

Institutional Investors Weigh In On MillerKnoll

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in MillerKnoll by 2.6% during 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. Pacer Advisors Inc. raised its stake in shares of MillerKnoll by 15.3% during the second quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company’s stock worth $106,370,000 after acquiring an additional 532,427 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MillerKnoll by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock worth $89,864,000 after acquiring an additional 377,121 shares in the last quarter. Hennessy Advisors Inc. raised its stake in shares of 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 acquiring an additional 180,500 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of MillerKnoll by 0.7% during the first quarter. LSV Asset Management now owns 1,059,546 shares of the company’s stock worth $26,234,000 after acquiring an additional 6,846 shares in the last quarter. 87.50% of the stock is currently owned by institutional investors.

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.