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

MillerKnoll (NASDAQ:MLKN) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

MillerKnoll Stock Up 1.6 %

Shares of NASDAQ MLKN opened at $24.68 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.93. MillerKnoll has a 52 week low of $19.10 and a 52 week high of $31.73. The firm’s fifty day moving average is $28.30 and its 200 day moving average is $27.36. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 0.99 and a beta of 1.18.

MillerKnoll (NASDAQ:MLKN) last issued its earnings results on Thursday, September 19th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.04). MillerKnoll had a return on equity of 10.94% and a net margin of 2.27%. The firm had revenue of $861.50 million during the quarter, compared to analysts’ expectations of $889.38 million. During the same period in the previous year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities research analysts expect that MillerKnoll will post 2.21 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MLKN. Nomura Asset Management Co. Ltd. increased its position in MillerKnoll by 100.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,140 shares of the company’s stock valued at $30,000 after purchasing an additional 570 shares during the period. Mather Group LLC. purchased a new position in MillerKnoll during the 2nd quarter valued at $30,000. EverSource Wealth Advisors LLC increased its position in MillerKnoll by 254.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock valued at $32,000 after purchasing an additional 862 shares during the period. Quadrant Capital Group LLC increased its position in MillerKnoll by 46.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,537 shares of the company’s stock valued at $41,000 after purchasing an additional 488 shares during the period. Finally, EntryPoint Capital LLC increased its stake in shares of MillerKnoll by 566.9% in the 1st quarter. EntryPoint Capital LLC now owns 2,661 shares of the company’s stock worth $66,000 after acquiring an additional 2,262 shares in the last quarter. 87.50% of the stock is owned by hedge funds and other institutional investors.

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.