Herman Miller, Inc. (NASDAQ:MLHR) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other research firms have also commented on MLHR. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Tuesday, July 11th. Sidoti started coverage on Herman Miller in a research report on Tuesday, June 27th. They issued a “buy” rating and a $38.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Herman Miller currently has a consensus rating of “Hold” and a consensus price target of $38.00.

Herman Miller (NASDAQ MLHR) remained flat at $33.00 on Friday. 425,424 shares of the company’s stock were exchanged. Herman Miller has a 52-week low of $26.99 and a 52-week high of $36.46. The company has a market capitalization of $1.97 billion, a P/E ratio of 16.10 and a beta of 1.45. The company’s 50-day moving average price is $33.22 and its 200-day moving average price is $31.86.

Herman Miller (NASDAQ:MLHR) last released its quarterly earnings results on Wednesday, July 5th. The business services provider reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.09. Herman Miller had a return on equity of 22.94% and a net margin of 5.44%. The company had revenue of $577.20 million during the quarter, compared to analysts’ expectations of $583.53 million. During the same period in the previous year, the firm posted $0.56 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities research analysts predict that Herman Miller will post $2.27 EPS for the current fiscal year.

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In related news, SVP Hezron T. Lopez sold 2,312 shares of the stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $33.96, for a total value of $78,515.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew J. Lock sold 19,247 shares of the stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $33.47, for a total value of $644,197.09. Following the completion of the transaction, the insider now directly owns 24,354 shares of the company’s stock, valued at approximately $815,128.38. The disclosure for this sale can be found here. Insiders sold 109,535 shares of company stock valued at $3,678,089 in the last three months. 1.91% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of MLHR. Meadow Creek Investment Management LLC increased its position in shares of Herman Miller by 5.1% in the first quarter. Meadow Creek Investment Management LLC now owns 3,444 shares of the business services provider’s stock worth $109,000 after buying an additional 168 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of Herman Miller by 67.9% in the second quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock worth $112,000 after buying an additional 1,494 shares in the last quarter. First Bank & Trust increased its position in shares of Herman Miller by 13.2% in the first quarter. First Bank & Trust now owns 3,841 shares of the business services provider’s stock worth $121,000 after buying an additional 448 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Herman Miller by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock worth $123,000 after buying an additional 181 shares in the last quarter. Finally, Glen Harbor Capital Management LLC increased its position in shares of Herman Miller by 5.1% in the first quarter. Glen Harbor Capital Management LLC now owns 4,182 shares of the business services provider’s stock worth $132,000 after buying an additional 204 shares in the last quarter. 86.12% of the stock is owned by hedge funds and other institutional investors.

Herman Miller Company Profile

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