Miller Industries (NYSE:MLR) Downgraded by Zacks Research to “Strong Sell”

Miller Industries (NYSE:MLR) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

MLR has been the topic of several other reports. Weiss Ratings restated a “hold (c)” rating on shares of Miller Industries in a research note on Friday, March 27th. Loop Capital set a $44.00 target price on shares of Miller Industries in a report on Monday, March 9th. Finally, DA Davidson raised their price target on shares of Miller Industries from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.00.

Miller Industries Price Performance

Shares of MLR stock opened at $48.79 on Monday. The firm has a fifty day moving average of $47.35 and a two-hundred day moving average of $43.28. The firm has a market cap of $556.16 million, a P/E ratio of 36.41 and a beta of 1.11. Miller Industries has a 1-year low of $33.81 and a 1-year high of $49.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.98 and a quick ratio of 1.78.

Miller Industries (NYSE:MLR) last announced its quarterly earnings data on Wednesday, May 6th. The auto parts company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.17). The firm had revenue of $180.86 million during the quarter, compared to the consensus estimate of $181.10 million. Miller Industries had a net margin of 2.08% and a return on equity of 3.70%. As a group, research analysts anticipate that Miller Industries will post 1.9 earnings per share for the current fiscal year.

Institutional Trading of Miller Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL purchased a new stake in shares of Miller Industries during the third quarter valued at $1,598,000. Citigroup Inc. increased its stake in Miller Industries by 219.6% in the 3rd quarter. Citigroup Inc. now owns 63,227 shares of the auto parts company’s stock worth $2,556,000 after purchasing an additional 43,444 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in Miller Industries by 24.3% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 121,261 shares of the auto parts company’s stock worth $4,901,000 after buying an additional 23,683 shares during the period. Azarias Capital Management L.P. purchased a new stake in Miller Industries during the fourth quarter valued at about $1,497,000. Finally, Invenomic Capital Management LP purchased a new stake in Miller Industries during the third quarter valued at about $4,442,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Miller Industries Company Profile

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.