MillerKnoll (NASDAQ:MLKN) Stock Rating Lowered by StockNews.com

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

MillerKnoll Stock Performance

Shares of NASDAQ MLKN traded down $0.30 during mid-day trading on Tuesday, reaching $21.95. 715,300 shares of the company were exchanged, compared to its average volume of 566,350. The stock has a market capitalization of $1.52 billion, a P/E ratio of 25.23, a P/E/G ratio of 0.96 and a beta of 1.23. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.99. The company’s 50-day simple moving average is $23.91 and its 200-day simple moving average is $25.84. MillerKnoll has a twelve month low of $20.89 and a twelve month high of $31.73.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The firm had revenue of $970.40 million during the quarter, compared to the consensus estimate of $959.60 million. During the same period last year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts predict that MillerKnoll will post 2.17 earnings per share for the current year.

Hedge Funds Weigh In On MillerKnoll

Several institutional investors and hedge funds have recently modified their holdings of MLKN. EverSource Wealth Advisors LLC raised its holdings in MillerKnoll by 254.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock valued at $32,000 after acquiring an additional 862 shares in the last quarter. GAMMA Investing LLC increased its position in shares of MillerKnoll by 35.0% in the third quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock worth $41,000 after purchasing an additional 426 shares during the period. Meeder Asset Management Inc. acquired a new position in MillerKnoll in the third quarter valued at about $84,000. DekaBank Deutsche Girozentrale boosted its position in shares of MillerKnoll by 99.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 4,640 shares of the company’s stock worth $112,000 after acquiring an additional 2,316 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in MillerKnoll during the third quarter worth $210,000. 87.50% of the stock is currently owned by institutional investors and hedge funds.

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.