MillerKnoll (NASDAQ:MLKN) Raised to “Strong-Buy” at Benchmark

MillerKnoll (NASDAQ:MLKN) was upgraded by stock analysts at Benchmark from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

A number of other brokerages have also recently weighed in on MLKN. Weiss Ratings raised MillerKnoll from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of MillerKnoll from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

MillerKnoll Price Performance

Shares of NASDAQ:MLKN opened at $20.65 on Tuesday. MillerKnoll has a one year low of $13.77 and a one year high of $24.71. The stock has a fifty day moving average of $22.12 and a 200-day moving average of $18.98. The company has a market capitalization of $1.42 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.65.

MillerKnoll (NASDAQ:MLKN) last issued its earnings results on Tuesday, September 22nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.18. The business had revenue of $923.40 million for the quarter, compared to analysts’ expectations of $940.93 million. MillerKnoll had a return on equity of 10.10% and a net margin of 2.57%.The company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 EPS. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q2 2027 guidance at 0.430-0.490 EPS. As a group, equities analysts anticipate that MillerKnoll will post 2.02 EPS for the current fiscal year.

Hedge Funds Weigh In On MillerKnoll

Several institutional investors and hedge funds have recently modified their holdings of MLKN. BlackRock Inc. acquired a new position in MillerKnoll in the 2nd quarter worth about $213,054,000. Pzena Investment Management LLC purchased a new stake in shares of MillerKnoll during the 2nd quarter worth about $62,049,000. Bank of America Corp DE acquired a new stake in shares of MillerKnoll during the 2nd quarter valued at about $11,499,000. Bank of New York Mellon Corp acquired a new stake in shares of MillerKnoll during the 2nd quarter valued at about $8,519,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of MillerKnoll by 41.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,259,388 shares of the company’s stock valued at $18,211,000 after buying an additional 366,726 shares in the last quarter. 87.50% of the stock is currently owned by hedge funds and other institutional investors.

MillerKnoll Company Profile

MillerKnoll, Inc is a global design company that develops furnishings and related products for workplaces, homes, healthcare facilities, educational institutions and hospitality environments. Its offerings include seating, desks, tables, storage, lighting, textiles and accessories, as well as solutions designed to support collaboration, privacy and flexible work settings.

The company’s portfolio includes brands such as Herman Miller, Knoll, Design Within Reach, Muuto, HAY, Maharam and Colebrook Bosson Saunders.