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

StockNews.com upgraded shares of MillerKnoll (NASDAQ:MLKN) from a hold rating to a buy rating in a research note released on Wednesday.

MillerKnoll Price Performance

Shares of NASDAQ:MLKN opened at $21.90 on Wednesday. The company has a market cap of $1.49 billion, a P/E ratio of 24.07, a P/E/G ratio of 0.84 and a beta of 1.23. The business has a fifty day simple moving average of $23.73 and a 200-day simple moving average of $25.66. MillerKnoll has a 52 week low of $20.89 and a 52 week high of $31.73. The company has a quick ratio of 0.99, a current ratio of 1.60 and a debt-to-equity ratio of 1.02.

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

Institutional Trading of MillerKnoll

Several institutional investors have recently made changes to their positions in MLKN. GAMMA Investing LLC raised its position in shares of 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 during the period. Bank of Montreal Can lifted its stake in shares of MillerKnoll by 6.0% in the 2nd quarter. Bank of Montreal Can now owns 13,551 shares of the company’s stock valued at $359,000 after purchasing an additional 768 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of MillerKnoll by 254.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock worth $32,000 after purchasing an additional 862 shares during the period. Hsbc Holdings PLC increased its position in MillerKnoll by 10.3% during the 2nd quarter. Hsbc Holdings PLC now owns 9,761 shares of the company’s stock worth $256,000 after purchasing an additional 908 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in MillerKnoll by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 40,269 shares of the company’s stock valued at $1,067,000 after buying an additional 1,463 shares during the period. 87.50% of the stock is owned by hedge funds and other 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.