MillerKnoll (NASDAQ:MLKN) Upgraded to “Hold” at Zacks Research

MillerKnoll (NASDAQ:MLKN) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

MLKN has been the subject of a number of other research reports. William Blair initiated coverage on shares of MillerKnoll in a research report on Tuesday, February 10th. They set an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of MillerKnoll in a research report on Friday, April 24th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MillerKnoll presently has an average rating of “Hold”.

MillerKnoll Stock Performance

MillerKnoll stock opened at $16.36 on Tuesday. The firm has a 50 day simple moving average of $16.04 and a 200-day simple moving average of $17.63. MillerKnoll has a 1-year low of $13.77 and a 1-year high of $23.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.64 and a quick ratio of 0.92. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 116.86, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41.

MillerKnoll (NASDAQ:MLKN) last posted its quarterly earnings data on Wednesday, March 25th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.02). The company had revenue of $926.60 million for the quarter, compared to analysts’ expectations of $941.95 million. MillerKnoll had a return on equity of 10.11% and a net margin of 0.28%.The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS. On average, analysts expect that MillerKnoll will post 1.83 EPS for the current year.

Hedge Funds Weigh In On MillerKnoll

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLKN. Pzena Investment Management LLC purchased a new position in MillerKnoll in the 1st quarter valued at approximately $28,858,000. Vanguard Group Inc. boosted its position in MillerKnoll by 7.9% in the 4th quarter. Vanguard Group Inc. now owns 8,550,194 shares of the company’s stock valued at $156,298,000 after buying an additional 623,035 shares during the period. Deprince Race & Zollo Inc. boosted its position in MillerKnoll by 27.2% in the 4th quarter. Deprince Race & Zollo Inc. now owns 2,530,994 shares of the company’s stock valued at $46,267,000 after buying an additional 541,638 shares during the period. SG Americas Securities LLC boosted its position in MillerKnoll by 755.0% in the 4th quarter. SG Americas Securities LLC now owns 478,727 shares of the company’s stock valued at $8,751,000 after buying an additional 422,735 shares during the period. Finally, Wellington Management Group LLP boosted its position in MillerKnoll by 46.4% in the 4th quarter. Wellington Management Group LLP now owns 1,305,280 shares of the company’s stock valued at $23,861,000 after buying an additional 413,531 shares during the period. Hedge funds and other institutional investors own 87.50% of the company’s stock.

About MillerKnoll

MillerKnoll, Inc (NASDAQ: MLKN) is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.

Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.