MillerKnoll (NASDAQ:MLKN) Downgraded by StockNews.com to Hold

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

Separately, Sidoti upgraded shares of MillerKnoll to a “hold” rating in a report on Tuesday.

MillerKnoll Stock Performance

MLKN opened at $19.76 on Friday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 0.89 and a beta of 1.22. The business’s 50-day moving average price is $21.22 and its two-hundred day moving average price is $23.09. MillerKnoll has a 1 year low of $17.83 and a 1 year high of $31.73. 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 earnings results on Wednesday, March 26th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. The business had revenue of $876.20 million for the quarter, compared to analyst estimates of $918.88 million. During the same quarter last year, the firm earned $0.45 EPS. MillerKnoll’s revenue for the quarter was up .4% compared to the same quarter last year. Equities analysts expect that MillerKnoll will post 2.12 EPS for the current fiscal year.

Institutional Trading of MillerKnoll

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in MillerKnoll by 939.8% during the 3rd quarter. FMR LLC now owns 38,784 shares of the company’s stock valued at $960,000 after purchasing an additional 35,054 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of MillerKnoll by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 159,420 shares of the company’s stock worth $3,947,000 after buying an additional 2,449 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of MillerKnoll during the 3rd quarter worth about $210,000. Edgestream Partners L.P. acquired a new position in MillerKnoll in the 3rd quarter valued at about $881,000. Finally, Paloma Partners Management Co bought a new position in MillerKnoll in the 3rd quarter valued at about $684,000. 87.50% of the stock is owned by institutional investors.

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.