Miller Industries (NYSE:MLR) Downgraded by Zacks Research to “Strong Sell”

Miller Industries (NYSE:MLR) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. DA Davidson upped their price target on shares of Miller Industries from $52.00 to $53.00 and gave the company a “buy” rating in a report on Monday. Loop Capital set a $44.00 price objective on shares of Miller Industries in a report on Monday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Miller Industries in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.50.

Miller Industries Trading Down 0.7%

NYSE MLR opened at $44.38 on Tuesday. Miller Industries has a one year low of $33.81 and a one year high of $48.94. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.22 and a quick ratio of 1.87. The firm has a market cap of $504.54 million, a P/E ratio of 22.41 and a beta of 1.25. The stock’s 50-day moving average is $42.11 and its 200-day moving average is $40.37.

Miller Industries (NYSE:MLR) last issued its quarterly earnings data on Wednesday, March 4th. The auto parts company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.26. Miller Industries had a return on equity of 5.52% and a net margin of 2.92%.The business had revenue of $171.92 million during the quarter, compared to analyst estimates of $164.20 million. Sell-side analysts anticipate that Miller Industries will post 5.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Miller Industries

A number of large investors have recently bought and sold shares of the company. Pacific Ridge Capital Partners LLC raised its holdings in shares of Miller Industries by 24.3% in the third quarter. Pacific Ridge Capital Partners LLC now owns 121,261 shares of the auto parts company’s stock valued at $4,901,000 after purchasing an additional 23,683 shares during the last quarter. Citigroup Inc. boosted its holdings in Miller Industries by 219.6% during the third quarter. Citigroup Inc. now owns 63,227 shares of the auto parts company’s stock worth $2,556,000 after purchasing an additional 43,444 shares during the last quarter. RBF Capital LLC acquired a new position in Miller Industries during the second quarter worth $1,272,000. CW Advisors LLC grew its position in Miller Industries by 228.0% in the second quarter. CW Advisors LLC now owns 23,125 shares of the auto parts company’s stock valued at $1,028,000 after purchasing an additional 16,075 shares in the last quarter. Finally, Semanteon Capital Management LP bought a new position in Miller Industries in the second quarter valued at $330,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

Miller Industries Company Profile

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.