MillerKnoll (NASDAQ:MLKN) Downgraded to “Buy” at StockNews.com

StockNews.com downgraded shares of MillerKnoll (NASDAQ:MLKN) from a strong-buy rating to a buy rating in a report issued on Friday.

MillerKnoll Price Performance

MLKN stock opened at $29.85 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.92 and a current ratio of 1.54. MillerKnoll has a 1 year low of $16.50 and a 1 year high of $31.33. The firm has a market cap of $2.14 billion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 1.12 and a beta of 1.19. The stock has a 50-day simple moving average of $26.81 and a 200-day simple moving average of $27.28.

MillerKnoll (NASDAQ:MLKN) last posted its earnings results on Wednesday, June 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.13. MillerKnoll had a return on equity of 10.94% and a net margin of 2.27%. The business had revenue of $888.90 million during the quarter, compared to analyst estimates of $898.65 million. During the same quarter last year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, equities analysts predict that MillerKnoll will post 2.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MLKN. Vanguard Group Inc. boosted its holdings in MillerKnoll by 0.5% in the third quarter. Vanguard Group Inc. now owns 8,971,907 shares of the company’s stock valued at $219,363,000 after purchasing an additional 48,165 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in MillerKnoll by 359.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 79,781 shares of the company’s stock valued at $2,129,000 after purchasing an additional 62,403 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in MillerKnoll by 1,117.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,449 shares of the company’s stock valued at $39,000 after purchasing an additional 1,330 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MillerKnoll by 8.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,492 shares of the company’s stock worth $947,000 after purchasing an additional 2,834 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in MillerKnoll during the fourth quarter valued at approximately $485,000. Hedge funds and other institutional investors own 87.50% of the company’s stock.

About MillerKnoll

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.