StockNews.com Downgrades MillerKnoll (NASDAQ:MLKN) to Hold

MillerKnoll (NASDAQ:MLKN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Sidoti raised MillerKnoll to a “hold” rating in a research note on Tuesday, March 25th.

MillerKnoll Price Performance

Shares of NASDAQ:MLKN opened at $19.76 on Friday. The company has a market capitalization of $1.35 billion, a P/E ratio of 21.71, a P/E/G ratio of 0.89 and a beta of 1.22. MillerKnoll has a 1-year low of $17.83 and a 1-year high of $31.73. The firm’s 50 day simple moving average is $21.22 and its two-hundred day simple moving average is $23.05. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.60 and a quick ratio of 0.99.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.44 EPS for the quarter, meeting the consensus estimate of $0.44. The firm had revenue of $876.20 million for the quarter, compared to the consensus estimate of $918.88 million. MillerKnoll had a net margin of 1.81% and a return on equity of 10.74%. The company’s revenue was up .4% on a year-over-year basis. During the same period last year, the firm earned $0.45 EPS. Research analysts expect that MillerKnoll will post 2.12 EPS for the current fiscal year.

Hedge Funds Weigh In On MillerKnoll

A number of hedge funds and other institutional investors have recently modified their holdings of MLKN. FMR LLC lifted its stake in MillerKnoll by 939.8% in the 3rd quarter. FMR LLC now owns 38,784 shares of the company’s stock worth $960,000 after purchasing an additional 35,054 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in MillerKnoll by 1.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 159,420 shares of the company’s stock valued at $3,947,000 after buying an additional 2,449 shares during the last quarter. Verition Fund Management LLC purchased a new position in MillerKnoll during the 3rd quarter valued at approximately $210,000. Edgestream Partners L.P. bought a new stake in MillerKnoll in the 3rd quarter worth approximately $881,000. Finally, Paloma Partners Management Co purchased a new stake in shares of MillerKnoll during the 3rd quarter worth approximately $684,000. Institutional investors 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.