Wall Street Zen Downgrades MillerKnoll (NASDAQ:MLKN) to Hold

Key Points

• Wall Street Zen downgraded MillerKnoll (NASDAQ: MLKN) from a "buy" rating to a "hold" rating, with a report released on Saturday.
• The current consensus among analysts includes one Strong Buy, two Hold, and one Sell rating, resulting in an average rating of "Hold."
• Institutional investors own 87.5% of MillerKnoll's stock, with several hedge funds increasing their stakes recently.

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

Several other analysts have also weighed in on the company. Benchmark upgraded MillerKnoll to a "hold" rating in a report on Friday, June 27th. Weiss Ratings reissued a "sell (d+)" rating on shares of MillerKnoll in a research note on Tuesday, October 14th. Finally, Zacks Research raised shares of MillerKnoll from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold".

MillerKnoll Trading Up 0.2%

Shares of MLKN stock opened at $17.45 on Friday. MillerKnoll has a 1 year low of $15.25 and a 1 year high of $25.96. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.67 and a quick ratio of 0.96. The stock's 50 day simple moving average is $19.11 and its two-hundred day simple moving average is $18.46. The company has a market cap of $1.20 billion, a PE ratio of -69.80, a price-to-earnings-growth ratio of 0.78 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 earnings per share (EPS) for the quarter. MillerKnoll had a positive return on equity of 10.96% and a negative net margin of 0.41%.The business had revenue of $92.95 million for the quarter. Research analysts predict that MillerKnoll will post 2.12 earnings per share for the current year.

Institutional Trading of MillerKnoll

A number of hedge funds and other institutional investors have recently bought and sold shares of MLKN. Osaic Holdings Inc. increased its stake in MillerKnoll by 36.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,941 shares of the company's stock worth $38,000 after buying an additional 519 shares during the period. Summit Securities Group LLC purchased a new position in MillerKnoll in the 1st quarter worth about $70,000. Canada Pension Plan Investment Board purchased a new position in shares of MillerKnoll during the second quarter worth approximately $82,000. CWM LLC increased its position in shares of MillerKnoll by 346.9% during the second quarter. CWM LLC now owns 5,072 shares of the company's stock worth $99,000 after acquiring an additional 3,937 shares during the period. Finally, Rexford Capital Inc. purchased a new position in shares of MillerKnoll during the second quarter worth approximately $101,000. Hedge funds and other institutional investors own 87.50% of the company's stock.

MillerKnoll Company Profile

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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