Miller Industries’ (MLR) Buy Rating Reaffirmed at DA Davidson

Miller Industries (NYSE:MLR)‘s stock had its “buy” rating reaffirmed by stock analysts at DA Davidson in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $82.00 price target on the auto parts company’s stock. DA Davidson’s target price indicates a potential upside of 23.94% from the stock’s current price. DA Davidson also issued estimates for Miller Industries’ Q4 2024 earnings at $1.09 EPS, FY2024 earnings at $5.68 EPS and FY2025 earnings at $5.94 EPS.

Separately, StockNews.com lowered Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday.

Miller Industries Trading Down 1.9 %

NYSE MLR opened at $66.16 on Friday. Miller Industries has a 12 month low of $38.33 and a 12 month high of $78.25. The company has a market capitalization of $756.80 million, a price-to-earnings ratio of 10.97 and a beta of 0.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.44. The firm’s fifty day moving average price is $63.98 and its 200 day moving average price is $60.61.

Miller Industries (NYSE:MLR) last issued its quarterly earnings data on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.33. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. The company had revenue of $314.27 million for the quarter. During the same period in the previous year, the business posted $1.52 EPS. On average, sell-side analysts expect that Miller Industries will post 5.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Miller Industries

Several hedge funds have recently made changes to their positions in MLR. Verition Fund Management LLC lifted its holdings in shares of Miller Industries by 3.5% during the third quarter. Verition Fund Management LLC now owns 5,773 shares of the auto parts company’s stock worth $352,000 after purchasing an additional 194 shares during the period. Cubist Systematic Strategies LLC raised its position in Miller Industries by 2.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company’s stock worth $452,000 after buying an additional 201 shares during the last quarter. Ellsworth Advisors LLC boosted its holdings in shares of Miller Industries by 3.6% in the third quarter. Ellsworth Advisors LLC now owns 11,842 shares of the auto parts company’s stock valued at $722,000 after acquiring an additional 411 shares in the last quarter. Point72 DIFC Ltd boosted its holdings in shares of Miller Industries by 146.9% in the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock valued at $55,000 after acquiring an additional 595 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Miller Industries during the second quarter worth about $39,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

About Miller Industries

Miller Industries, Inc, together with its subsidiaries, manufactures and sells towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flat-bed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.