Zacks Research Upgrades MillerKnoll (NASDAQ:MLKN) to “Hold”

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

Several other brokerages have also recently issued reports on MLKN. William Blair started coverage on shares of MillerKnoll in a report on Tuesday, February 10th. They set an “outperform” rating on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of MillerKnoll in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

MillerKnoll Stock Up 3.4%

Shares of MillerKnoll stock opened at $16.36 on Tuesday. 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 firm’s 50-day moving average is $16.04 and its two-hundred day moving average is $17.63. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 116.86, a PEG ratio of 0.72 and a beta of 1.41.

MillerKnoll (NASDAQ:MLKN) last issued its earnings results on Wednesday, March 25th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.02). MillerKnoll had a return on equity of 10.11% and a net margin of 0.28%.The business had revenue of $926.60 million for the quarter, compared to the consensus estimate of $941.95 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. As a group, research analysts expect that MillerKnoll will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MillerKnoll

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC purchased a new position in shares of MillerKnoll in the 1st quarter valued at approximately $26,000. Osaic Holdings Inc. raised its position in shares of MillerKnoll by 36.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,941 shares of the company’s stock valued at $38,000 after purchasing an additional 519 shares during the last quarter. Lloyd Advisory Services LLC. purchased a new position in shares of MillerKnoll in the 4th quarter valued at approximately $46,000. Harbour Investments Inc. raised its position in shares of MillerKnoll by 47.7% in the 4th quarter. Harbour Investments Inc. now owns 3,095 shares of the company’s stock valued at $57,000 after purchasing an additional 1,000 shares during the last quarter. Finally, KBC Group NV raised its position in shares of MillerKnoll by 92.1% in the 1st quarter. KBC Group NV now owns 3,803 shares of the company’s stock valued at $55,000 after purchasing an additional 1,823 shares during the last quarter. 87.50% of the stock is owned by hedge funds and other institutional investors.

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.