Herman Miller (NASDAQ:MLHR) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

MLHR has been the topic of several other research reports. Zacks Investment Research cut Herman Miller from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine upgraded Herman Miller from a “hold” rating to a “buy” rating in a research report on Monday, December 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $38.00.

Herman Miller (NASDAQ MLHR) opened at $35.40 on Thursday. The stock has a market capitalization of $2,044.42, a PE ratio of 15.98 and a beta of 1.48. Herman Miller has a 52-week low of $28.55 and a 52-week high of $37.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.30 and a quick ratio of 0.86.

Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Thursday, September 21st. The business services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. The firm had revenue of $580.30 million for the quarter, compared to analysts’ expectations of $578.27 million. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. equities analysts expect that Herman Miller will post 2.32 earnings per share for the current fiscal year.

In other Herman Miller news, CEO Brian C. Walker sold 14,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $34.80, for a total transaction of $487,200.00. Following the transaction, the chief executive officer now owns 160,979 shares in the company, valued at approximately $5,602,069.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Stephen C. Gane sold 10,686 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $36.01, for a total value of $384,802.86. Following the transaction, the senior vice president now owns 21,985 shares in the company, valued at approximately $791,679.85. The disclosure for this sale can be found here. Insiders have sold a total of 85,789 shares of company stock worth $2,955,741 in the last quarter. 1.91% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC grew its holdings in shares of Herman Miller by 67.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock worth $112,000 after acquiring an additional 1,494 shares during the period. Sei Investments Co. grew its holdings in shares of Herman Miller by 0.6% in the 2nd quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock worth $135,000 after acquiring an additional 26 shares during the period. Neuberger Berman Group LLC acquired a new stake in shares of Herman Miller in the 3rd quarter worth approximately $211,000. Trexquant Investment LP acquired a new stake in shares of Herman Miller in the 2nd quarter worth approximately $229,000. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Herman Miller in the 2nd quarter worth approximately $240,000. Institutional investors own 82.40% of the company’s stock.

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Herman Miller Company Profile

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