Herman Miller (NASDAQ:MLHR) was upgraded by analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday. The brokerage currently has a $43.00 price objective on the business services provider’s stock. Raymond James Financial’s price target would indicate a potential upside of 13.31% from the company’s previous close.
Several other research firms have also weighed in on MLHR. Zacks Investment Research lowered Herman Miller from a “hold” rating to a “sell” rating in a report on Wednesday, November 22nd. ValuEngine downgraded Herman Miller from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, BidaskClub downgraded Herman Miller from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $39.67.
Herman Miller (NASDAQ MLHR) traded down $0.55 during mid-day trading on Tuesday, reaching $37.95. The company’s stock had a trading volume of 473,700 shares, compared to its average volume of 393,214. The company has a current ratio of 1.33, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $2,268.59, a price-to-earnings ratio of 18.79 and a beta of 1.48. Herman Miller has a 52-week low of $28.55 and a 52-week high of $38.90.
In other Herman Miller news, SVP Stephen C. Gane sold 10,686 shares of Herman Miller stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $36.01, for a total value of $384,802.86. Following the sale, the senior vice president now owns 21,985 shares of the company’s stock, valued at approximately $791,679.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew J. Lock sold 24,277 shares of Herman Miller stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $34.17, for a total value of $829,545.09. Following the completion of the sale, the insider now directly owns 26,388 shares in the company, valued at approximately $901,677.96. The disclosure for this sale can be found here. Insiders sold a total of 71,789 shares of company stock worth $2,468,541 in the last three months. Company insiders own 1.91% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. increased its position in shares of Herman Miller by 0.6% in the second quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 26 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Herman Miller by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,880 shares of the business services provider’s stock valued at $304,000 after acquiring an additional 28 shares during the last quarter. M&T Bank Corp increased its position in shares of Herman Miller by 0.4% in the first quarter. M&T Bank Corp now owns 20,428 shares of the business services provider’s stock valued at $631,000 after acquiring an additional 83 shares during the last quarter. Ronald Blue & Co. LLC increased its position in shares of Herman Miller by 1.4% in the second quarter. Ronald Blue & Co. LLC now owns 6,787 shares of the business services provider’s stock valued at $206,000 after acquiring an additional 91 shares during the last quarter. Finally, State Treasurer State of Michigan increased its position in Herman Miller by 0.4% during the second quarter. State Treasurer State of Michigan now owns 24,030 shares of the business services provider’s stock worth $718,000 after buying an additional 100 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.
Herman Miller Company Profile
