MillerKnoll (NASDAQ:MLKN) Cut to Hold at StockNews.com

MillerKnoll (NASDAQ:MLKN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

MillerKnoll Trading Down 2.5 %

Shares of MLKN stock traded down $0.60 on Thursday, reaching $23.61. 607,312 shares of the stock were exchanged, compared to its average volume of 650,663. The firm has a 50 day moving average of $27.06 and a two-hundred day moving average of $26.93. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.99. MillerKnoll has a 1-year low of $22.43 and a 1-year high of $31.73. The stock has a market cap of $1.69 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 0.93 and a beta of 1.17.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings results on Thursday, September 19th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. The business had revenue of $861.50 million for the quarter, compared to analysts’ expectations of $889.38 million. During the same period last year, the company posted $0.37 earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, research analysts anticipate that MillerKnoll will post 2.17 EPS for the current year.

Hedge Funds Weigh In On MillerKnoll

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in MillerKnoll by 35.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock valued at $41,000 after buying an additional 426 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in MillerKnoll by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 44,779 shares of the company’s stock valued at $1,186,000 after buying an additional 580 shares during the last quarter. Oliver Luxxe Assets LLC boosted its position in MillerKnoll by 1.9% in the 1st quarter. Oliver Luxxe Assets LLC now owns 35,724 shares of the company’s stock valued at $885,000 after buying an additional 665 shares during the last quarter. Bridge City Capital LLC boosted its position in MillerKnoll by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 91,676 shares of the company’s stock valued at $2,270,000 after buying an additional 693 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in 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 buying an additional 768 shares during the last quarter. 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.