Miller Industries (NYSE:MLR) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Miller Industries shares rose above their 200-day moving average during Wednesday trading, with the stock reaching as high as $50.00 and last trading at $49.48. The move comes as traders watch whether the technical breakout can hold.
• Analyst sentiment is mixed but generally cautious: DA Davidson raised its price target to $56 and kept a buy rating, while Zacks and Weiss both have hold views. Overall, the consensus rating is Hold with an average price target of $50.00.
• The company recently missed earnings expectations, reporting $0.05 EPS versus the $0.22 consensus, though revenue was close to estimates at $180.86 million. Miller Industries also pays a quarterly dividend of $0.21 per share, or $0.84 annually, for a yield of about 1.7%.

Miller Industries, Inc. (NYSE:MLR - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $45.39 and traded as high as $50.00. Miller Industries shares last traded at $49.48, with a volume of 68,173 shares traded.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. DA Davidson lifted their price objective on shares of Miller Industries from $53.00 to $56.00 and gave the company a "buy" rating in a report on Monday, May 11th. Zacks Research raised Miller Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, July 10th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Miller Industries in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $50.00.

Miller Industries Price Performance

The firm has a market cap of $564.07 million, a PE ratio of 36.93 and a beta of 1.10. The company has a quick ratio of 1.78, a current ratio of 2.98 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $48.59 and a two-hundred day moving average price of $45.39.

Miller Industries (NYSE:MLR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The auto parts company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.17). The company had revenue of $180.86 million during the quarter, compared to analysts' expectations of $181.10 million. Miller Industries had a net margin of 2.08% and a return on equity of 3.70%. As a group, equities analysts expect that Miller Industries, Inc. will post 1.9 earnings per share for the current year.

Miller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, June 1st were paid a dividend of $0.21 per share. The ex-dividend date was Monday, June 1st. This represents a $0.84 dividend on an annualized basis and a yield of 1.7%. Miller Industries's dividend payout ratio is presently 62.69%.

Institutional Investors Weigh In On Miller Industries

Institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc increased its position in shares of Miller Industries by 200.0% in the 4th quarter. IFP Advisors Inc now owns 906 shares of the auto parts company's stock valued at $34,000 after acquiring an additional 604 shares during the period. EverSource Wealth Advisors LLC lifted its position in Miller Industries by 66.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company's stock worth $37,000 after acquiring an additional 329 shares during the period. Russell Investments Group Ltd. grew its stake in Miller Industries by 736.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,137 shares of the auto parts company's stock valued at $46,000 after purchasing an additional 1,001 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Miller Industries during the 2nd quarter valued at about $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Miller Industries in the third quarter valued at about $159,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Miller Industries Company Profile

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company's product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.

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