Herman Miller (NASDAQ:MLHR) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other equities research analysts have also recently issued reports on MLHR. Zacks Investment Research upgraded shares of Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Tuesday, September 26th. Raymond James Financial upgraded shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 price target for the company in a report on Tuesday, December 26th. Finally, ValuEngine upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $41.67.

Shares of Herman Miller (MLHR) traded down $0.20 during trading hours on Friday, reaching $39.85. 330,343 shares of the company were exchanged, compared to its average volume of 466,989. The company has a market capitalization of $2,394.12, a PE ratio of 19.73 and a beta of 1.48. Herman Miller has a 12-month low of $28.55 and a 12-month high of $40.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.33 and a quick ratio of 0.89.

Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings data on Wednesday, December 20th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.57. The firm had revenue of $604.60 million during the quarter, compared to analysts’ expectations of $603.77 million. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. Herman Miller’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. equities analysts anticipate that Herman Miller will post 2.35 earnings per share for the current year.

In other news, EVP Jeremy J. Hocking sold 2,442 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $40.40, for a total transaction of $98,656.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kevin J. Veltman sold 1,190 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $40.28, for a total transaction of $47,933.20. The disclosure for this sale can be found here. Insiders have sold 31,014 shares of company stock valued at $1,075,219 over the last 90 days. Corporate insiders own 1.91% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in MLHR. Sei Investments Co. raised its position in shares of Herman Miller by 0.6% during the second quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock valued at $135,000 after buying an additional 26 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Herman Miller by 6.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 368,745 shares of the business services provider’s stock valued at $11,210,000 after buying an additional 22,597 shares during the last quarter. First Trust Advisors LP raised its position in shares of Herman Miller by 2.8% during the second quarter. First Trust Advisors LP now owns 51,504 shares of the business services provider’s stock valued at $1,566,000 after buying an additional 1,391 shares during the last quarter. Legal & General Group Plc raised its position in shares of Herman Miller by 17.1% during the second quarter. Legal & General Group Plc now owns 49,117 shares of the business services provider’s stock valued at $1,494,000 after buying an additional 7,162 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Herman Miller by 8.1% during the second quarter. Victory Capital Management Inc. now owns 17,713 shares of the business services provider’s stock valued at $538,000 after buying an additional 1,325 shares during the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.

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Herman Miller Company Profile

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