Miller Industries (NYSE:MLR - Get Free Report) had its price objective lowered by investment analysts at DA Davidson from $66.00 to $64.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the auto parts company's stock. DA Davidson's price objective would indicate a potential upside of 43.55% from the company's current price.
Miller Industries Trading Up 2.0%
Shares of MLR stock traded up $0.87 on Thursday, reaching $44.59. 68,229 shares of the stock were exchanged, compared to its average volume of 95,337. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.23 and a quick ratio of 2.16. Miller Industries has a one year low of $37.40 and a one year high of $78.25. The stock has a market cap of $510.94 million, a PE ratio of 9.47 and a beta of 1.24. The stock has a 50 day moving average price of $44.03 and a 200 day moving average price of $53.05.
Miller Industries (NYSE:MLR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The auto parts company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.09. Miller Industries had a return on equity of 13.78% and a net margin of 4.81%. The firm had revenue of $225.65 million during the quarter, compared to analyst estimates of $224.35 million. Equities research analysts forecast that Miller Industries will post 5.68 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. IFP Advisors Inc lifted its holdings in Miller Industries by 98.0% during the first quarter. IFP Advisors Inc now owns 608 shares of the auto parts company's stock worth $26,000 after acquiring an additional 301 shares in the last quarter. AlphaQuest LLC raised its holdings in Miller Industries by 230.3% during the 1st quarter. AlphaQuest LLC now owns 1,985 shares of the auto parts company's stock worth $84,000 after buying an additional 1,384 shares during the period. CANADA LIFE ASSURANCE Co bought a new position in Miller Industries in the fourth quarter valued at approximately $85,000. CX Institutional bought a new position in Miller Industries in the first quarter valued at approximately $120,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Miller Industries by 1,894.1% in the first quarter. GAMMA Investing LLC now owns 3,051 shares of the auto parts company's stock valued at $129,000 after buying an additional 2,898 shares during the period. Institutional investors and hedge funds own 79.24% of the company's stock.
About Miller Industries
(
Get Free Report)
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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