Zacks Research Downgrades MillerKnoll (NASDAQ:MLKN) to Strong Sell

MillerKnoll (NASDAQ:MLKN) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also issued reports on MLKN. Weiss Ratings reissued a “sell (d+)” rating on shares of MillerKnoll in a report on Monday, December 29th. Wall Street Zen lowered MillerKnoll from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, William Blair initiated coverage on MillerKnoll in a report on Tuesday, February 10th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

MillerKnoll Stock Performance

NASDAQ MLKN opened at $15.02 on Tuesday. The company has a fifty day moving average of $19.22 and a two-hundred day moving average of $17.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.64 and a quick ratio of 0.92. MillerKnoll has a 1 year low of $13.77 and a 1 year high of $23.18. The company has a market capitalization of $1.03 billion, a PE ratio of 107.29, a P/E/G ratio of 0.66 and a beta of 1.41.

MillerKnoll (NASDAQ:MLKN) last posted its earnings results on Wednesday, March 25th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.02). MillerKnoll had a return on equity of 10.11% and a net margin of 0.28%.The firm had revenue of $926.60 million for the quarter, compared to analyst estimates of $941.95 million. During the same quarter last year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts expect that MillerKnoll will post 2.12 earnings per share 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 the stock. Osaic Holdings Inc. lifted its position in shares of MillerKnoll by 36.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,941 shares of the company’s stock valued at $38,000 after acquiring an additional 519 shares during the period. ProShare Advisors LLC lifted its position in shares of MillerKnoll by 4.4% during the 4th quarter. ProShare Advisors LLC now owns 13,308 shares of the company’s stock valued at $243,000 after acquiring an additional 558 shares during the period. Amalgamated Bank lifted its position in shares of MillerKnoll by 3.4% during the 3rd quarter. Amalgamated Bank now owns 20,072 shares of the company’s stock valued at $356,000 after acquiring an additional 668 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of MillerKnoll by 9.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 7,676 shares of the company’s stock valued at $140,000 after acquiring an additional 690 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in shares of MillerKnoll by 2.0% during the 4th quarter. State of Alaska Department of Revenue now owns 38,972 shares of the company’s stock valued at $711,000 after acquiring an additional 767 shares during the period. 87.50% of the stock is currently owned by institutional investors and hedge funds.

MillerKnoll Company Profile

MillerKnoll, Inc (NASDAQ: MLKN) is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.

Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.