Miller Industries (NYSE:MLR) Rating Lowered to Hold at StockNews.com

Miller Industries (NYSE:MLR) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Separately, DA Davidson started coverage on Miller Industries in a report on Wednesday, October 2nd. They set a “buy” rating and a $82.00 target price for the company.

Miller Industries Price Performance

Shares of NYSE:MLR opened at $67.39 on Wednesday. The company has a market cap of $771.62 million, a PE ratio of 11.26 and a beta of 0.94. Miller Industries has a fifty-two week low of $38.33 and a fifty-two week high of $78.25. The firm has a 50-day simple moving average of $63.64 and a 200 day simple moving average of $60.45. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.18.

Institutional Trading of Miller Industries

Large investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. grew its position in Miller Industries by 1,404.6% in the 1st quarter. Hillsdale Investment Management Inc. now owns 57,173 shares of the auto parts company’s stock worth $2,864,000 after purchasing an additional 53,373 shares during the last quarter. AdvisorShares Investments LLC grew its position in Miller Industries by 7.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company’s stock valued at $7,426,000 after buying an additional 9,384 shares in the last quarter. Narwhal Capital Management boosted its holdings in shares of Miller Industries by 31.2% in the third quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company’s stock valued at $6,928,000 after acquiring an additional 26,983 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Miller Industries during the second quarter valued at approximately $468,000. Finally, Cubist Systematic Strategies LLC raised its holdings in Miller Industries by 2.5% during the second quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company’s stock worth $452,000 after purchasing an additional 201 shares in the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

About Miller Industries

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.