Herman Miller Inc. [NASDAQ: MLHR] traded at a low on 06/30/20, posting a -10.26 loss after which it closed the day’ session at $23.61. Recently, Herman Miller Inc. held Earnings call that was scheduled on June 30, 2020 at 9:30 AM Eastern Time. The company discussed its earning outcomes for the upcoming Q4 of 2020.
The meeting was called upon the current scenario of the COVID-19 pandemic and the impact of lockdown on companies’ earnings. The company discussed the possible solutions to recover from the losses during the lockdown and draw a structure to deal with its quarterly earnings and obtain the expected results.
The results of the trading session contributed to over 2086347 shares changing hands. Over the past one week, the price volatility of Herman Miller Inc. stands at 6.67% while the volatility over the past one month is 6.20%.
The market cap for MLHR stock reached $1.37 billion, with 58.94 million shares outstanding and 58.37 million shares in the current float. Compared to the average trading volume of 660.95K shares, MLHR reached a trading volume of 2086347 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Herman Miller Inc. [MLHR]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MLHR shares is $28.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MLHR stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Sidoti have made an estimate for Herman Miller Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 30, 2020. The new note on the price target was released on May 22, 2020, representing the official price target for Herman Miller Inc. stock. Previously, the target price had yet another raise to $47, while Sidoti analysts kept a Buy rating on MLHR stock.
The Average True Range (ATR) for Herman Miller Inc. is set at 1.65, with the Price to Sales ratio for MLHR stock in the period of the last 12 months amounting to 0.51. The Price to Book ratio for the last quarter was 1.66, with the Price to Cash per share for the same quarter was set at 2.06. Price to Free Cash Flow for MLHR in the course of the last twelve months was 9.10 with Quick ratio for the last quarter at 0.90.
How has MLHR stock performed recently?
Herman Miller Inc. [MLHR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.94. With this latest performance, MLHR shares gained by 1.81% in over the last four-week period, additionally sinking by -43.25% over the last 6 months – not to mention a drop of -46.33% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MLHR stock in for the last two-week period is set at 47.07, with the RSI for the last a single of trading hit 43.95, and the three-weeks RSI is set at 48.35 for Herman Miller Inc. [MLHR]. The present Moving Average for the last 50 days of trading for this stock 23.30, while it was recorded at 24.67 for the last single week of trading, and 35.15 for the last 200 days.
Herman Miller Inc. [MLHR]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Herman Miller Inc. [MLHR] shares currently have an operating margin of +8.32 and a Gross Margin at +36.22. Herman Miller Inc.’s Net Margin is presently recorded at +6.25.
Return on Total Capital for MLHR is now 21.42, given the latest momentum, and Return on Invested Capital for the company is 16.54. Return on Equity for this stock inclined to 23.20, with Return on Assets sitting at 10.53. When it comes to the capital structure of this company, Herman Miller Inc. [MLHR] has a Total Debt to Total Equity ratio set at 39.63. Additionally, MLHR Total Debt to Total Capital is recorded at 28.38, with Total Debt to Total Assets ending up at 18.16. Long-Term Debt to Equity for the company is recorded at 39.20, with the Long-Term Debt to Total Capital now at 28.07.
Reflecting on the efficiency of the workforce at the company, Herman Miller Inc. [MLHR] managed to generate an average of $20,063 per employee. Receivables Turnover for the company is 10.89 with a Total Asset Turnover recorded at a value of 1.68.Herman Miller Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.30.
Earnings analysis for Herman Miller Inc. [MLHR]
With the latest financial reports released by the company, Herman Miller Inc. posted 0.84/share EPS, while the average EPS was predicted by analysts to be reported at 0.78/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MLHR.
Insider trade positions for Herman Miller Inc. [MLHR]
There are presently around $1,309 million, or 88.20% of MLHR stock, in the hands of institutional investors. The top three institutional holders of MLHR stocks are: BLACKROCK INC. with ownership of 6,745,836, which is approximately -1.735% of the company’s market cap and around 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 5,995,053 shares of the stock with an approximate value of $157.73 million in MLHR stocks shares; and AQR CAPITAL MANAGEMENT LLC, currently with $90.16 million in MLHR stock with ownership of nearly 33.349% of the company’s market capitalization.
Positions in Herman Miller Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 122 institutional holders increased their position in Herman Miller Inc. [NASDAQ:MLHR] by around 7,922,698 shares. Additionally, 176 investors decreased positions by around 8,000,862 shares, while 45 investors held positions by with 33,815,083 shares. The mentioned changes placed institutional holdings at 49,738,643 shares, according to the latest SEC report filing. MLHR stock had 33 new institutional investments in for a total of 2,388,882 shares, while 76 institutional investors sold positions of 4,202,708 shares during the same period.