BidaskClub Downgrades Herman Miller (MLHR) to Sell

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

MLHR has been the topic of a number of other research reports. Zacks Investment Research cut shares of Herman Miller from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. ValuEngine cut shares of Herman Miller from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Herman Miller currently has an average rating of “Hold” and a consensus target price of $41.67.

Shares of MLHR stock traded up $0.25 during mid-day trading on Friday, reaching $32.70. 3,305 shares of the company’s stock traded hands, compared to its average volume of 298,847. Herman Miller has a 12 month low of $29.25 and a 12 month high of $41.85. The stock has a market cap of $1.94 billion, a PE ratio of 15.14 and a beta of 1.42. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 0.42.

Herman Miller (NASDAQ:MLHR) last announced its earnings results on Wednesday, March 21st. The business services provider reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. Herman Miller had a net margin of 5.55% and a return on equity of 22.26%. The firm had revenue of $578.40 million for the quarter, compared to analysts’ expectations of $573.30 million. During the same quarter in the previous year, the business posted $0.39 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. sell-side analysts forecast that Herman Miller will post 2.24 earnings per share for the current fiscal year.

In other Herman Miller news, insider Gregory J. Bylsma sold 17,907 shares of the business’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $32.23, for a total value of $577,142.61. Following the completion of the transaction, the insider now owns 60,441 shares of the company’s stock, valued at approximately $1,948,013.43. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian C. Walker sold 125,000 shares of the business’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $37.98, for a total value of $4,747,500.00. Following the completion of the transaction, the chief executive officer now directly owns 20,701 shares of the company’s stock, valued at approximately $786,223.98. The disclosure for this sale can be found here. Insiders own 1.91% of the company’s stock.

Large investors have recently modified their holdings of the business. Quantbot Technologies LP purchased a new position in Herman Miller in the 1st quarter worth about $121,000. Delpha Capital Management LLC purchased a new position in Herman Miller in the 4th quarter worth about $160,000. BlueCrest Capital Management Ltd purchased a new position in Herman Miller in the 4th quarter worth about $222,000. Ifrah Financial Services Inc. purchased a new position in Herman Miller in the 4th quarter worth about $224,000. Finally, LS Investment Advisors LLC raised its position in Herman Miller by 44.7% in the 4th quarter. LS Investment Advisors LLC now owns 6,891 shares of the business services provider’s stock worth $276,000 after buying an additional 2,130 shares during the last quarter. 81.73% of the stock is owned by institutional investors and hedge funds.

Herman Miller Company Profile

Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.

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