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

MillerKnoll (NASDAQ:MLKN) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other brokerages have also recently commented on MLKN. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MillerKnoll in a research report on Monday. Wall Street Zen raised shares of MillerKnoll from a “hold” rating to a “buy” rating in a report on Sunday, November 2nd. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

MillerKnoll Stock Down 0.3%

MLKN stock opened at $15.70 on Monday. MillerKnoll has a twelve month low of $13.77 and a twelve month high of $25.94. The company has a quick ratio of 0.96, a current ratio of 1.67 and a debt-to-equity ratio of 1.02. The company has a market cap of $1.08 billion, a PE ratio of -62.80, a price-to-earnings-growth ratio of 0.71 and a beta of 1.32. The business’s 50-day simple moving average is $16.06 and its 200 day simple moving average is $18.23.

MillerKnoll (NASDAQ:MLKN) last posted its quarterly earnings results on Wednesday, February 16th. The company reported $0.35 EPS for the quarter. MillerKnoll had a positive return on equity of 10.96% and a negative net margin of 0.41%.The firm had revenue of $92.95 million during the quarter. On average, research analysts anticipate that MillerKnoll will post 2.12 earnings per share for the current year.

Institutional Investors Weigh In On MillerKnoll

Large investors have recently bought and sold shares of the business. NewEdge Advisors LLC acquired a new position in MillerKnoll in the third quarter worth $477,000. Verition Fund Management LLC raised its holdings in shares of MillerKnoll by 89.0% in the third quarter. Verition Fund Management LLC now owns 33,620 shares of the company’s stock valued at $596,000 after buying an additional 15,829 shares during the last quarter. Prelude Capital Management LLC acquired a new position in MillerKnoll during the 3rd quarter worth about $339,000. Algert Global LLC bought a new stake in MillerKnoll during the 3rd quarter worth about $247,000. Finally, Alliancebernstein L.P. increased its position in MillerKnoll by 7.1% in the 3rd quarter. Alliancebernstein L.P. now owns 5,166,059 shares of the company’s stock valued at $91,646,000 after acquiring an additional 340,917 shares in the last quarter. 87.50% of the stock is currently owned by institutional investors.

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.