Herman Miller (NASDAQ:MLHR) was upgraded by investment analysts at Sidoti from a “neutral” rating to a “buy” rating in a report issued on Tuesday, The Fly reports. The brokerage currently has a $33.00 price objective on the business services provider’s stock. Sidoti’s target price points to a potential upside of 25.43% from the company’s current price.
A number of other brokerages also recently weighed in on MLHR. BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Benchmark started coverage on shares of Herman Miller in a report on Friday, May 22nd. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $42.00.
NASDAQ MLHR opened at $26.31 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $23.99 and a 200 day simple moving average of $30.60. The company has a market cap of $1.46 billion, a P/E ratio of 7.41 and a beta of 1.57. Herman Miller has a 1 year low of $14.39 and a 1 year high of $49.87.
In other Herman Miller news, Director Michael A. Volkema acquired 25,000 shares of Herman Miller stock in a transaction dated Thursday, May 7th. The stock was bought at an average cost of $21.94 per share, with a total value of $548,500.00. Following the acquisition, the director now owns 100,000 shares of the company’s stock, valued at $2,194,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.05% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in MLHR. Bartlett & Co. LLC bought a new position in shares of Herman Miller during the 1st quarter worth about $27,000. Advisors Asset Management Inc. lifted its holdings in shares of Herman Miller by 104.2% during the 4th quarter. Advisors Asset Management Inc. now owns 688 shares of the business services provider’s stock worth $29,000 after acquiring an additional 351 shares during the period. Advisor Group Holdings Inc. bought a new position in shares of Herman Miller during the 1st quarter worth about $86,000. State of Tennessee Treasury Department lifted its holdings in shares of Herman Miller by 20.3% during the 1st quarter. State of Tennessee Treasury Department now owns 6,171 shares of the business services provider’s stock worth $137,000 after acquiring an additional 1,042 shares during the period. Finally, ETF Managers Group LLC lifted its holdings in shares of Herman Miller by 11.4% during the 1st quarter. ETF Managers Group LLC now owns 7,890 shares of the business services provider’s stock worth $180,000 after acquiring an additional 808 shares during the period. 82.70% of the stock is owned by institutional investors.
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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