Herman Miller Inc. (NASDAQ:MLHR) finished Friday with an addition of $0.27 to close at $39.11, an upside of 0.70 percent. An average of 519,800 shares of common stock have been traded in the last five days. There was a gain of $1.07 in the past week, and it reached a new high 22 times over the past 12 months. The last 20 days have seen an average of 697,935 shares traded, while the 50-day average volume stands at 563,002.
MLHR stock has decreased by -3.81% in the last month. The company shares reached their 1-month lowest point of $36.10 on 10/01/21. With the stock rallying to its 52-week high on 06/10/21, shares of the company touched a low of $30.22 and a high of $51.24 in 52 weeks. It has reached a new high 32 times so far this year and achieved 15.71% or $5.31 in price. In spite of this, the price is down -23.68% from the 52-week high.
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78 days have passed since Herman Miller Inc. (MLHR) last reported insider trading activity. Watson Bruce Benedict, who is Executive Creative Director, most recently acquired $12,099 shares at $43.58 per share on Aug 06. In this transaction, the insider spent $527,293. Chief Technology Officer, Kurburski Jeffrey L., disposed of 4,446 shares at a price of $45.25 on Jul 21. The insider now owns more than $201,182 worth of shares. Prior to that, Executive Creative Director Watson Bruce Benedict went on to Sale 7,388 shares at $47.00 each on Jul 12. An amount of $347,236 was transacted.
Herman Miller Inc. (MLHR) has a trailing price-to-earnings (P/E) ratio of 51.60, which compares with the 16.20 for the broader industry and 29.83 for the sector. In the last five years, Herman Miller Inc.’s PE ratio has ranged between 155.44 and 4.268. The stock’s beta is 1.31. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.12, the price-to-book (PB) ratio at 1.76, and the price-to-cash flow ratio at 45.62.
Herman Miller Inc. pays a $0.75 dividend per share annually. It offers a dividend yield of 1.92%. The company has a payout ratio of 97.10%. The company’s most recent quarterly dividend payment took place on Oct. 15, and it was $0.1875 a share, without any change from last year. Its latest decrease dividend $0.0225 reported on Thursday September 17 2020.Dividends have grown by -43.21% each year over the last three years.
The quick ratio of Herman Miller Inc. for the three months ended May 30 was 0.90, and the current ratio was 1.40, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.88 and a total debt to equity ratio of 0.90 for the quarter ending May 30. Its gross profit as reported stood at $949.2 million compared to revenue of $2.47 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Herman Miller Inc.’s return on assets was 1.50%. For the broader industry, ROE averaged 2.17 over the past year.
For the three-month period that ended May 30, Herman Miller Inc. had $8.0 million in cash and short-term investments compared to $1.3 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$61.5 million in the quarter, while revenues of $7.3 million were grew 218.7%. The analyst consensus anticipated Herman Miller Inc.’s latest quarter earnings to come in at $0.39 per share, but it turned out to be $0.56, a 43.60% surprise. For the quarter, EBITDA amounted to $6.9 million. Shareholders own equity worth $75.77 million.
From a technical analysis perspective, let’s take a brief look at Herman Miller Inc. (MLHR) price momentum. RSI 9-day as of the close on 22 October was 57.30%, suggesting the stock is Neutral, with historical volatility in this time frame at 9.87%.
As of today, MLHR’s price is $38.75 +2.81% or $1.07 from its 5-day moving average. MLHR is currently trading -4.75% lower than its 20-day SMA and -21.76% lower than its 100-day SMA. However, the stock’s current price level is -10.15% below the SMA50 and +13.82% above the SMA200.
The stochastic %K and %D were 83.94% and 72.53%, respectively, and the average true range (ATR) was 1.15. With the 14-day stochastic at 90.54% and the average true range at 1.22, the RSI (14) stands at 50.64%. The stock has reached 0.82 on the 9-day MACD Oscillator while the 14-day reading was at 1.09.
Berenberg launched coverage on Herman Miller Inc. (NASDAQ: MLHR) in its analyst report released on May 11, 2021. The firm assigned the stock a a Buy rating. The consensus rating for Herman Miller Inc. (MLHR) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MLHR, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 4 others rate it as a “buy”.
What is MLHR’s price target for the next 12 months?
Analysts predict a range of price targets between $51.00 and $62.00, with a median target of $60.00. Taking a look at these predictions, the average price target given by analysts for Herman Miller Inc. (MLHR) stock is $57.60.