MillerKnoll (NASDAQ:MLKN) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded MillerKnoll from “hold” to “buy”, adding to a mixed analyst picture that currently averages to a Hold rating.
• The company’s latest quarterly results were better than expected, with EPS of $0.55 topping estimates and revenue of $1 billion beating forecasts, while sales rose 4.4% year over year.
• MillerKnoll shares were down 0.7% in Friday trading, and institutional ownership remains high at 87.5% of the stock.

MillerKnoll (NASDAQ:MLKN - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

MLKN has been the topic of several other research reports. Zacks Research raised MillerKnoll from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 26th. Weiss Ratings raised MillerKnoll from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold".

MillerKnoll Trading Down 0.7%

Shares of NASDAQ MLKN opened at $21.82 on Friday. MillerKnoll has a 1-year low of $13.77 and a 1-year high of $23.18. The company has a 50-day moving average of $17.22 and a two-hundred day moving average of $18.13. The company has a market cap of $1.49 billion, a PE ratio of 16.53, a P/E/G ratio of 0.91 and a beta of 1.36. The company has a current ratio of 1.58, a quick ratio of 0.90 and a debt-to-equity ratio of 0.94.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last released its quarterly earnings results on Wednesday, June 24th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $973.87 million. MillerKnoll had a net margin of 2.38% and a return on equity of 9.77%. MillerKnoll's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. As a group, equities analysts expect that MillerKnoll will post 2.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MillerKnoll

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Douglas Lane & Associates LLC raised its position in shares of MillerKnoll by 92.4% in the 4th quarter. Douglas Lane & Associates LLC now owns 445,145 shares of the company's stock valued at $8,137,000 after acquiring an additional 213,816 shares during the period. Deprince Race & Zollo Inc. grew its holdings in MillerKnoll by 27.2% during the fourth quarter. Deprince Race & Zollo Inc. now owns 2,530,994 shares of the company's stock valued at $46,267,000 after purchasing an additional 541,638 shares during the period. Hsbc Holdings PLC grew its holdings in MillerKnoll by 240.9% during the fourth quarter. Hsbc Holdings PLC now owns 80,559 shares of the company's stock valued at $1,488,000 after purchasing an additional 56,927 shares during the period. SG Americas Securities LLC increased its stake in MillerKnoll by 14.7% in the first quarter. SG Americas Securities LLC now owns 549,173 shares of the company's stock valued at $7,941,000 after purchasing an additional 70,446 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in MillerKnoll in the first quarter valued at approximately $438,000. Institutional investors own 87.50% of the company's stock.

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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