MillerKnoll (NASDAQ:MLKN) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of MillerKnoll (NASDAQ:MLKN) from a buy rating to a strong-buy rating in a research note published on Saturday morning.

MillerKnoll Stock Performance

NASDAQ:MLKN opened at $28.22 on Friday. MillerKnoll has a 1-year low of $16.50 and a 1-year high of $31.73. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.53 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $27.12 and a 200-day simple moving average of $27.48. The firm has a market cap of $2.02 billion, a PE ratio of 25.13, a P/E/G ratio of 1.14 and a beta of 1.19.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings results on Wednesday, June 26th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.54 by $0.13. MillerKnoll had a net margin of 2.27% and a return on equity of 10.94%. The firm had revenue of $888.90 million during the quarter, compared to analyst estimates of $898.65 million. During the same quarter in the prior year, the business posted $0.41 earnings per share. MillerKnoll’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, equities analysts expect that MillerKnoll will post 2.21 EPS for the current year.

Institutional Investors Weigh In On MillerKnoll

Several institutional investors have recently bought and sold shares of MLKN. Nomura Asset Management Co. Ltd. boosted 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 valued at $30,000 after purchasing an additional 570 shares during the period. Mather Group LLC. purchased a new position in shares of MillerKnoll in the second quarter valued at $30,000. International Assets Investment Management LLC boosted its stake in shares of MillerKnoll by 1,117.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,449 shares of the company’s stock valued at $39,000 after purchasing an additional 1,330 shares during the period. Daiwa Securities Group Inc. purchased a new position in shares of MillerKnoll in the fourth quarter valued at $40,000. Finally, Quadrant Capital Group LLC boosted 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 valued at $41,000 after purchasing an additional 488 shares during the period. 87.50% of the stock is currently owned by hedge funds and other 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.