Miller Industries (NYSE:MLR) Cut to Hold at StockNews.com

StockNews.com lowered shares of Miller Industries (NYSE:MLR) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

Separately, DA Davidson began coverage on Miller Industries in a research note on Wednesday, October 2nd. They set a “buy” rating and a $82.00 target price for the company.

Miller Industries Stock Up 0.1 %

NYSE MLR traded up $0.04 on Tuesday, reaching $74.87. The company had a trading volume of 6,082 shares, compared to its average volume of 74,039. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.08 and a quick ratio of 1.44. Miller Industries has a 1 year low of $38.33 and a 1 year high of $76.26. The firm has a 50-day moving average of $62.46 and a 200-day moving average of $59.69. The firm has a market capitalization of $857.56 million, a PE ratio of 12.03 and a beta of 0.94.

Miller Industries (NYSE:MLR) last announced its earnings results on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share for the quarter. Miller Industries had a net margin of 5.55% and a return on equity of 20.16%. The business had revenue of $371.45 million during the quarter. On average, equities research analysts anticipate that Miller Industries will post 5.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Miller Industries

Several institutional investors and hedge funds have recently made changes to their positions in MLR. Innealta Capital LLC acquired a new stake in shares of Miller Industries during the second quarter worth $39,000. Point72 DIFC Ltd boosted its position in shares of Miller Industries by 146.9% during the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after buying an additional 595 shares during the period. EntryPoint Capital LLC grew its holdings in Miller Industries by 101.3% in the 1st quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock worth $91,000 after buying an additional 913 shares in the last quarter. Quest Partners LLC bought a new position in Miller Industries in the 2nd quarter worth approximately $200,000. Finally, Lakewood Asset Management LLC acquired a new stake in Miller Industries in the 3rd quarter valued at approximately $250,000. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Miller Industries Company Profile

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.