Miller Industries' (MLR) "Hold (C+)" Rating Reaffirmed at Weiss Ratings

Key Points

• Miller Industries' stock received a reaffirmed "hold (C+)" rating from Weiss Ratings, with a consensus rating of "Hold" and an average target price of $64.00.
• The company reported earnings of $0.73 per share for the last quarter, exceeding analyst expectations of $0.55, although revenue fell short at $214.03 million.
• Significant institutional investment activity was noted, with Millennium Management raising its stake by 855.1%, and overall institutional ownership now at 79.24%.

Miller Industries (NYSE:MLR - Get Free Report)'s stock had its "hold (c+)" rating restated by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other research analysts have also issued reports about the company. DA Davidson cut their price target on Miller Industries from $66.00 to $64.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Zacks Research upgraded Miller Industries to a "strong sell" rating in a report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $64.00.

Miller Industries Stock Up 1.4%

MLR opened at $40.43 on Wednesday. The business has a 50 day moving average price of $41.08 and a 200 day moving average price of $42.70. Miller Industries has a twelve month low of $33.81 and a twelve month high of $78.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.19 and a current ratio of 3.32. The firm has a market cap of $463.25 million, a P/E ratio of 11.05 and a beta of 1.24.

Miller Industries (NYSE:MLR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The auto parts company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.18. Miller Industries had a return on equity of 10.48% and a net margin of 4.35%.The firm had revenue of $214.03 million during the quarter, compared to analyst estimates of $234.95 million. Research analysts forecast that Miller Industries will post 5.68 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MLR. Millennium Management LLC raised its stake in shares of Miller Industries by 855.1% in the first quarter. Millennium Management LLC now owns 156,930 shares of the auto parts company's stock valued at $6,649,000 after purchasing an additional 140,500 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Miller Industries by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 286,984 shares of the auto parts company's stock valued at $12,160,000 after purchasing an additional 112,925 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Miller Industries by 24.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 443,468 shares of the auto parts company's stock valued at $18,790,000 after purchasing an additional 88,365 shares in the last quarter. Nuveen LLC acquired a new position in Miller Industries during the first quarter worth $1,469,000. Finally, Narwhal Capital Management raised its stake in Miller Industries by 26.3% during the second quarter. Narwhal Capital Management now owns 153,479 shares of the auto parts company's stock worth $6,824,000 after acquiring an additional 31,980 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Miller Industries Company Profile

Miller Industries, Inc, together with its subsidiaries, manufactures and sells towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flat-bed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.

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