Miller Industries (NYSE:MLR) Upgraded to "Buy" at StockNews.com

Miller Industries (NYSE:MLR - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Monday.

Separately, DA Davidson initiated coverage on Miller Industries in a research report on Wednesday, October 2nd. They set a "buy" rating and a $82.00 price target on the stock.

Miller Industries Stock Up 2.7 %

Shares of Miller Industries stock traded up $1.76 on Monday, reaching $67.76. 88,050 shares of the company were exchanged, compared to its average volume of 74,756. The company has a market capitalization of $777.21 million, a price-to-earnings ratio of 11.83 and a beta of 0.96. The company has a current ratio of 2.08, a quick ratio of 1.44 and a debt-to-equity ratio of 0.18. Miller Industries has a one year low of $35.82 and a one year high of $69.75. The company has a 50-day moving average of $61.02 and a 200 day moving average of $58.63.

Miller Industries (NYSE:MLR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The auto parts company reported $1.78 EPS for the quarter. The firm had revenue of $371.45 million during the quarter. Miller Industries had a net margin of 5.55% and a return on equity of 20.16%. On average, equities research analysts forecast that Miller Industries will post 5.6 earnings per share for the current year.

Hedge Funds Weigh In On Miller Industries

Several institutional investors and hedge funds have recently made changes to their positions in MLR. Cubist Systematic Strategies LLC raised its position in Miller Industries by 2.5% in the second quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company's stock valued at $452,000 after purchasing an additional 201 shares during the last quarter. Ellsworth Advisors LLC boosted its position in Miller Industries by 3.6% during the 3rd quarter. Ellsworth Advisors LLC now owns 11,842 shares of the auto parts company's stock worth $722,000 after buying an additional 411 shares during the period. Point72 DIFC Ltd increased its position in Miller Industries by 146.9% in the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company's stock valued at $55,000 after acquiring an additional 595 shares during the period. Innealta Capital LLC bought a new position in shares of Miller Industries during the second quarter valued at $39,000. Finally, Kennedy Capital Management LLC raised its stake in shares of Miller Industries by 2.4% during the first quarter. Kennedy Capital Management LLC now owns 36,707 shares of the auto parts company's stock valued at $1,839,000 after acquiring an additional 853 shares during the last quarter. Institutional investors and hedge funds own 79.24% of the company's stock.

Miller Industries Company Profile

Miller Industries, Inc, together with its subsidiaries, manufactures and sells towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flat-bed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.