MillerKnoll (NASDAQ:MLKN) Downgraded by StockNews.com to Hold

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

MillerKnoll Price Performance

Shares of MLKN opened at $21.87 on Tuesday. The company’s 50-day moving average is $23.91 and its 200-day moving average is $25.84. 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 firm has a market capitalization of $1.51 billion, a PE ratio of 25.14, a PEG ratio of 0.96 and a beta of 1.23. MillerKnoll has a fifty-two week low of $20.89 and a fifty-two 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 for the quarter, beating the consensus estimate 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 analysts’ expectations of $959.60 million. During the same period in the prior year, the firm earned $0.59 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Equities analysts forecast that MillerKnoll will post 2.17 EPS for the current year.

Institutional Investors Weigh In On MillerKnoll

A number of hedge funds and other institutional investors have recently modified their holdings of MLKN. Pacer Advisors Inc. increased its position in 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 during the period. Disciplined Growth Investors Inc. MN increased its holdings in shares of MillerKnoll by 157.4% during the third quarter. Disciplined Growth Investors Inc. MN now owns 852,584 shares of the company’s stock worth $21,110,000 after purchasing an additional 521,318 shares during the period. Dimensional Fund Advisors LP raised its position in shares of MillerKnoll by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock valued at $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% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 547,540 shares of the company’s stock valued at $13,557,000 after buying an additional 307,210 shares during the period. Finally, Forager Capital Management LLC grew its position in MillerKnoll by 45.9% during the third quarter. Forager Capital Management LLC now owns 953,841 shares of the company’s stock worth $23,617,000 after buying an additional 300,000 shares in the last quarter. Institutional investors and hedge funds own 87.50% of the company’s stock.

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.