Miller Industries (NYSE:MLR) Downgraded by StockNews.com to “Hold”

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

Separately, DA Davidson assumed coverage on shares of Miller Industries in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $82.00 price objective for the company.

Miller Industries Trading Up 1.0 %

NYSE MLR opened at $67.06 on Tuesday. Miller Industries has a one year low of $36.57 and a one year high of $69.75. The company’s 50 day moving average price is $61.75 and its 200 day moving average price is $59.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.08. The firm has a market capitalization of $768.11 million, a price-to-earnings ratio of 10.78 and a beta of 0.94.

Miller Industries (NYSE:MLR) last posted its quarterly earnings results on Wednesday, August 7th. The auto parts company reported $1.78 EPS for the quarter. Miller Industries had a net margin of 5.55% and a return on equity of 20.16%. The firm had revenue of $371.45 million for the quarter. On average, sell-side analysts predict that Miller Industries will post 5.6 EPS for the current year.

Institutional Trading of Miller Industries

Large investors have recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in Miller Industries in the second quarter valued at approximately $39,000. Point72 DIFC Ltd grew its position in shares of Miller Industries by 146.9% during the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after buying an additional 595 shares in the last quarter. EntryPoint Capital LLC grew its position in shares of Miller Industries by 101.3% during the first quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock worth $91,000 after buying an additional 913 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Miller Industries during the second quarter worth approximately $200,000. Finally, Lakewood Asset Management LLC acquired a new stake in shares of Miller Industries during the third quarter worth approximately $250,000. 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.