MillerKnoll (NASDAQ:MLKN) Cut to Hold at Wall Street Zen

MillerKnoll (NASDAQ:MLKN) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Several other research firms have also commented on MLKN. Zacks Research upgraded shares of MillerKnoll from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Weiss Ratings downgraded MillerKnoll from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

MillerKnoll Price Performance

Shares of NASDAQ MLKN opened at $21.42 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.58. The firm’s 50-day simple moving average is $16.40 and its 200 day simple moving average is $17.93. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 0.88 and a beta of 1.36. MillerKnoll has a fifty-two week low of $13.77 and a fifty-two week high of $23.18.

MillerKnoll (NASDAQ:MLKN) last announced its earnings results on Wednesday, June 24th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $973.87 million. MillerKnoll had a return on equity of 9.77% and a net margin of 2.38%.MillerKnoll’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. As a group, research analysts anticipate that MillerKnoll will post 2.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MillerKnoll

A number of institutional investors and hedge funds have recently modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of MillerKnoll by 166.5% in the second quarter. Versant Capital Management Inc now owns 1,250 shares of the company’s stock worth $26,000 after purchasing an additional 781 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of MillerKnoll during the first quarter valued at approximately $26,000. 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 acquiring an additional 519 shares in the last quarter. Lloyd Advisory Services LLC. bought a new stake in MillerKnoll in the fourth quarter valued at $46,000. Finally, Harbour Investments Inc. increased its position in MillerKnoll by 47.7% during the 4th quarter. Harbour Investments Inc. now owns 3,095 shares of the company’s stock valued at $57,000 after purchasing an additional 1,000 shares during the period. 87.50% of the stock is owned by hedge funds and other institutional investors.

About MillerKnoll

MillerKnoll, Inc (NASDAQ: MLKN) is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.

Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.