MillerKnoll (NASDAQ:MLKN) Stock Rating Upgraded by Zacks Research

Key Points

• MillerKnoll's stock rating was upgraded by Zacks Research from a "hold" to a "strong-buy".
• Currently, consensus ratings on MillerKnoll show one analyst with a Strong Buy, two with a Hold, and one with a Sell rating.
• The company's stock opened at $16.77, with a market capitalization of $1.15 billion and recent stock movements indicating a 12-month low of $15.25 and a high of $25.96.

MillerKnoll (NASDAQ:MLKN - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

A number of other analysts have also issued reports on MLKN. Wall Street Zen lowered MillerKnoll from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of MillerKnoll in a research note on Tuesday. Finally, Benchmark raised MillerKnoll to a "hold" rating in a research note on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

MillerKnoll Stock Up 1.1%

Shares of MLKN opened at $16.77 on Tuesday. The company has a current ratio of 1.67, a quick ratio of 0.96 and a debt-to-equity ratio of 1.02. MillerKnoll has a 12 month low of $15.25 and a 12 month high of $25.96. The stock's 50 day moving average is $19.63 and its two-hundred day moving average is $18.50. The firm has a market cap of $1.15 billion, a P/E ratio of -67.08, a PEG ratio of 0.74 and a beta of 1.35.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 16th. The company reported $0.35 EPS for the quarter. MillerKnoll had a positive return on equity of 10.96% and a negative net margin of 0.41%.The company had revenue of $92.95 million for the quarter. Analysts predict that MillerKnoll will post 2.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MillerKnoll

Institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its position in MillerKnoll by 36.5% during the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company's stock worth $38,000 after buying an additional 519 shares in the last quarter. Summit Securities Group LLC purchased a new position in MillerKnoll during the first quarter worth approximately $70,000. Canada Pension Plan Investment Board purchased a new position in MillerKnoll during the second quarter worth approximately $82,000. CWM LLC lifted its position in MillerKnoll by 346.9% during the second quarter. CWM LLC now owns 5,072 shares of the company's stock worth $99,000 after buying an additional 3,937 shares in the last quarter. Finally, Rexford Capital Inc. purchased a new position in MillerKnoll during the second quarter worth approximately $101,000. Hedge funds and other institutional investors own 87.50% of the company's stock.

About MillerKnoll

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.

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