MillerKnoll (NASDAQ:MLKN) Raised to Buy at StockNews.com

StockNews.com upgraded shares of MillerKnoll (NASDAQ:MLKN - Free Report) from a hold rating to a buy rating in a research report released on Wednesday morning.

MillerKnoll Stock Performance

MLKN traded up $0.43 on Wednesday, reaching $21.90. 597,483 shares of the stock were exchanged, compared to its average volume of 601,220. MillerKnoll has a fifty-two week low of $20.89 and a fifty-two week high of $31.73. The firm has a market capitalization of $1.49 billion, a PE ratio of 25.17, a PEG ratio of 0.96 and a beta of 1.23. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.59 and a quick ratio of 0.93. The company's 50-day moving average price is $23.78 and its 200 day moving average price is $25.68.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last announced its quarterly earnings results on Wednesday, December 18th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.01. The company had revenue of $970.40 million during the quarter, compared to the consensus estimate of $959.60 million. MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. MillerKnoll's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. As a group, sell-side analysts forecast that MillerKnoll will post 2.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MLKN. Pacer Advisors Inc. raised its holdings in MillerKnoll by 15.3% in the 2nd quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company's stock worth $106,370,000 after purchasing an additional 532,427 shares during the period. Disciplined Growth Investors Inc. MN raised its stake in shares of MillerKnoll by 157.4% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 852,584 shares of the company's stock worth $21,110,000 after buying an additional 521,318 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of MillerKnoll by 12.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company's stock worth $89,864,000 after buying an additional 377,121 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in shares of MillerKnoll by 127.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 547,540 shares of the company's stock valued at $13,557,000 after buying an additional 307,210 shares in the last quarter. Finally, Forager Capital Management LLC grew its stake in MillerKnoll by 45.9% in the 3rd quarter. Forager Capital Management LLC now owns 953,841 shares of the company's stock valued at $23,617,000 after acquiring an additional 300,000 shares during the period. Institutional investors and hedge funds own 87.50% of the company's stock.

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.