Weiss Ratings Reaffirms "Sell (D+)" Rating for MillerKnoll (NASDAQ:MLKN)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D+)" rating for MillerKnoll (NASDAQ: MLKN), indicating continued negative sentiment from analysts regarding the stock's performance.
• Despite the negative rating from Weiss, several research firms have upgraded their recommendations for MillerKnoll, with Benchmark and Zacks Research recently changing their ratings to "Hold."
• MillerKnoll's stock rose by 1.3% to $16.72, with a market capitalization of $1.15 billion, but it faces challenges with a negative net margin and trading volumes below average levels.

MillerKnoll (NASDAQ:MLKN - Get Free Report)'s stock had its "sell (d+)" rating reissued by investment analysts at Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

Several other research firms also recently commented on MLKN. Benchmark raised shares of MillerKnoll to a "hold" rating in a report on Friday, June 27th. Zacks Research raised shares of MillerKnoll from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. Finally, Wall Street Zen downgraded shares of MillerKnoll from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, MillerKnoll presently has an average rating of "Reduce".

MillerKnoll Stock Up 1.3%

Shares of MillerKnoll stock traded up $0.22 on Tuesday, hitting $16.72. The company had a trading volume of 155,485 shares, compared to its average volume of 535,615. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -67.04, a P/E/G ratio of 0.73 and a beta of 1.35. MillerKnoll has a 1 year low of $15.25 and a 1 year high of $25.96. The stock has a 50 day moving average of $19.75 and a 200-day moving average of $18.53. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.96 and a current ratio of 1.67.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MLKN. Osaic Holdings Inc. raised its holdings in shares of MillerKnoll by 36.5% during the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company's stock valued at $38,000 after purchasing an additional 519 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of MillerKnoll in the first quarter worth approximately $70,000. Canada Pension Plan Investment Board bought a new position in shares of MillerKnoll during the second quarter worth $82,000. CWM LLC grew 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 valued at $99,000 after purchasing an additional 3,937 shares in the last quarter. Finally, Rexford Capital Inc. purchased a new position in shares of MillerKnoll during the second quarter valued at about $101,000. 87.50% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.