MillerKnoll (NASDAQ:MLKN) Upgraded at StockNews.com

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

MillerKnoll Price Performance

MLKN traded up $0.27 during trading on Thursday, hitting $26.42. 722,669 shares of the stock traded hands, compared to its average volume of 699,027. MillerKnoll has a twelve month low of $14.14 and a twelve month high of $31.33. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 0.93 and a beta of 1.26. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.59 and a quick ratio of 0.95. The business has a 50 day moving average price of $26.38 and a 200 day moving average price of $27.28.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.14. The company had revenue of $888.90 million during the quarter, compared to the consensus estimate of $898.65 million. MillerKnoll had a net margin of 1.96% and a return on equity of 9.61%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. Equities research analysts forecast that MillerKnoll will post 1.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. SummerHaven Investment Management LLC increased its holdings in shares of MillerKnoll by 0.9% during the fourth quarter. SummerHaven Investment Management LLC now owns 43,828 shares of the company’s stock worth $1,169,000 after buying an additional 382 shares in the last quarter. Twin Lakes Capital Management LLC grew its stake in shares of MillerKnoll by 0.9% in the third quarter. Twin Lakes Capital Management LLC now owns 54,627 shares of the company’s stock worth $1,336,000 after purchasing an additional 474 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of MillerKnoll by 46.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,537 shares of the company’s stock worth $41,000 after purchasing an additional 488 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of MillerKnoll by 100.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,140 shares of the company’s stock worth $30,000 after purchasing an additional 570 shares during the last quarter. Finally, Oliver Luxxe Assets LLC grew its stake in shares of MillerKnoll by 1.9% in the first quarter. Oliver Luxxe Assets LLC now owns 35,724 shares of the company’s stock worth $885,000 after purchasing an additional 665 shares during the last quarter. 87.50% of the stock is currently owned by institutional investors and hedge funds.

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.