MillerKnoll (NASDAQ:MLKN) Downgraded to "Strong Sell" Rating by Zacks Research

Key Points

• Zacks Research downgraded MillerKnoll (NASDAQ:MLKN) from "hold" to "strong sell", and MarketBeat shows a consensus "Reduce" rating (one Buy, one Hold, two Sells).
• MillerKnoll missed the most recent quarter (EPS $0.43 vs. $0.45 estimate; revenue $926.6M vs. $941.95M), trades with a stretched valuation (market cap ≈ $1.03B; P/E ≈ 107) despite modest 5.7% revenue growth year-over-year.

MillerKnoll (NASDAQ:MLKN - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

MLKN has been the topic of several other research reports. Wall Street Zen downgraded MillerKnoll from a "buy" rating to a "hold" rating in a research report on Saturday, January 10th. Weiss Ratings reissued a "sell (d+)" rating on shares of MillerKnoll in a research note on Monday, December 29th. Finally, William Blair began coverage on MillerKnoll in a research note on Tuesday, February 10th. They set an "outperform" rating for the company. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, MillerKnoll currently has a consensus rating of "Reduce".

MillerKnoll Stock Performance

NASDAQ MLKN opened at $15.02 on Tuesday. The company has a market cap of $1.03 billion, a P/E ratio of 107.29, a P/E/G ratio of 0.66 and a beta of 1.41. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.92 and a current ratio of 1.64. The business's 50 day moving average price is $19.22 and its 200-day moving average price is $17.83. MillerKnoll has a fifty-two week low of $13.77 and a fifty-two week high of $23.18.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last released its earnings results on Wednesday, March 25th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.02). The company had revenue of $926.60 million for the quarter, compared to the consensus estimate of $941.95 million. MillerKnoll had a net margin of 0.28% and a return on equity of 10.11%. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. Sell-side analysts predict that MillerKnoll will post 2.12 earnings per share for the current year.

Institutional Investors Weigh In On MillerKnoll

A number of institutional investors and hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. raised its position in MillerKnoll by 36.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,941 shares of the company's stock valued at $38,000 after purchasing an additional 519 shares in the last quarter. Lloyd Advisory Services LLC. bought a new stake in MillerKnoll during the 4th quarter valued at $46,000. Harbour Investments Inc. raised its position in MillerKnoll by 47.7% during the 4th quarter. Harbour Investments Inc. now owns 3,095 shares of the company's stock valued at $57,000 after purchasing an additional 1,000 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in MillerKnoll during the 3rd quarter valued at $72,000. Finally, Canada Pension Plan Investment Board bought a new stake in MillerKnoll during the 2nd quarter valued at $82,000. 87.50% of the stock is owned by institutional investors.

About MillerKnoll

MillerKnoll, Inc NASDAQ: MLKN is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.

Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.

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