StockNews.com Upgrades MillerKnoll (NASDAQ:MLKN) to Buy

MillerKnoll (NASDAQ:MLKN - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Friday.

MillerKnoll Stock Performance

NASDAQ:MLKN traded down $0.61 during midday trading on Friday, reaching $22.39. 6,336,652 shares of the company traded hands, compared to its average volume of 666,057. MillerKnoll has a twelve month low of $20.89 and a twelve month high of $31.73. 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 has a fifty day moving average price of $24.39 and a 200 day moving average price of $26.12. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last released its quarterly earnings results on Wednesday, December 18th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The business had revenue of $970.40 million during the quarter, compared to analyst estimates of $959.60 million. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The company's quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts expect that MillerKnoll will post 2.17 EPS for the current fiscal year.

Institutional Trading of MillerKnoll

Several large investors have recently added to or reduced their stakes in MLKN. EverSource Wealth Advisors LLC grew its stake in shares of MillerKnoll by 254.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company's stock worth $32,000 after purchasing an additional 862 shares in the last quarter. GAMMA Investing LLC grew its position in MillerKnoll by 35.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,642 shares of the company's stock valued at $41,000 after buying an additional 426 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in MillerKnoll during the 3rd quarter valued at about $84,000. Innealta Capital LLC bought a new stake in shares of MillerKnoll during the 2nd quarter worth about $87,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of MillerKnoll by 99.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 4,640 shares of the company's stock worth $112,000 after acquiring an additional 2,316 shares during the period. 87.50% of the stock is currently owned by institutional investors and hedge funds.

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.

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