MillerKnoll (NASDAQ:MLKN) Upgraded to Buy at StockNews.com

MillerKnoll (NASDAQ:MLKN) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

MillerKnoll Stock Performance

Shares of MLKN stock opened at $21.47 on Wednesday. The business has a 50-day simple moving average of $23.78 and a 200-day simple moving average of $25.68. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.99. The stock has a market cap of $1.46 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 0.96 and a beta of 1.23. MillerKnoll has a 52-week low of $20.89 and a 52-week high of $31.73.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings results on Wednesday, December 18th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The firm had revenue of $970.40 million for the quarter, compared to analysts’ expectations of $959.60 million. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS. On average, equities analysts expect that MillerKnoll will post 2.17 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC boosted its position in shares of MillerKnoll by 939.8% during the 3rd quarter. FMR LLC now owns 38,784 shares of the company’s stock worth $960,000 after acquiring an additional 35,054 shares in the last quarter. Jane Street Group LLC increased its position in shares of MillerKnoll by 56.6% during the third quarter. Jane Street Group LLC now owns 90,960 shares of the company’s stock worth $2,252,000 after purchasing an additional 32,861 shares in the last quarter. Forager Capital Management LLC lifted 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 purchasing an additional 300,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of MillerKnoll by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,269 shares of the company’s stock valued at $1,067,000 after purchasing an additional 1,463 shares during the period. Finally, Barclays PLC lifted its stake in MillerKnoll by 37.7% in the third quarter. Barclays PLC now owns 119,389 shares of the company’s stock valued at $2,957,000 after buying an additional 32,686 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.