MillerKnoll (NASDAQ:MLKN) Stock Bumped Up to Strong-Buy by Benchmark

Key Points

• Benchmark upgraded MillerKnoll from “hold” to “strong-buy,” while analysts overall maintain a “Moderate Buy” consensus rating.
• MillerKnoll’s latest quarterly earnings came in at $0.53 per share, beating estimates of $0.35, although revenue fell 3.4% year over year to $923.4 million.
• Institutional ownership is substantial at 87.5%, with major new positions established by BlackRock and Pzena Investment Management during the second quarter.

MillerKnoll (NASDAQ:MLKN - Get Free Report) was upgraded by investment analysts at Benchmark from a "hold" rating to a "strong-buy" rating in a research note issued on Tuesday, Zacks reports.

A number of other research firms have also issued reports on MLKN. Weiss Ratings raised MillerKnoll from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. Wall Street Zen downgraded MillerKnoll from a "buy" rating to a "hold" rating in a research report on Sunday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

MillerKnoll Trading Up 0.4%

NASDAQ:MLKN opened at $20.72 on Tuesday. MillerKnoll has a 52-week low of $13.77 and a 52-week high of $24.71. The company has a quick ratio of 0.90, a current ratio of 1.65 and a debt-to-equity ratio of 0.94. The stock has a fifty day simple moving average of $22.17 and a 200-day simple moving average of $18.96. The company has a market capitalization of $1.43 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last posted its earnings results on Tuesday, September 22nd. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.18. MillerKnoll had a net margin of 2.57% and a return on equity of 10.10%. The firm had revenue of $923.40 million during the quarter, compared to the consensus estimate of $940.93 million. During the same period last year, the firm posted $0.45 EPS. The firm's revenue for the quarter was down 3.4% on a year-over-year basis. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q2 2027 guidance at 0.430-0.490 EPS. On average, equities research analysts expect that MillerKnoll will post 2.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MillerKnoll

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in MillerKnoll during the second quarter worth approximately $213,054,000. Pzena Investment Management LLC purchased a new stake in shares of MillerKnoll during the 2nd quarter valued at $62,049,000. Bank of America Corp DE purchased a new stake in shares of MillerKnoll during the 2nd quarter valued at $11,499,000. Bank of New York Mellon Corp acquired a new stake in shares of MillerKnoll during the 2nd quarter worth $8,519,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of MillerKnoll by 41.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,259,388 shares of the company's stock worth $18,211,000 after buying an additional 366,726 shares during the last quarter. 87.50% of the stock is owned by institutional investors and hedge funds.

About MillerKnoll

MillerKnoll, Inc is a global design company that develops furnishings and related products for workplaces, homes, healthcare facilities, educational institutions and hospitality environments. Its offerings include seating, desks, tables, storage, lighting, textiles and accessories, as well as solutions designed to support collaboration, privacy and flexible work settings.

The company's portfolio includes brands such as Herman Miller, Knoll, Design Within Reach, Muuto, HAY, Maharam and Colebrook Bosson Saunders.

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