Miller Industries (NYSE:MLR) Rating Lowered to “Strong Sell” at Zacks Research

Miller Industries (NYSE:MLR) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. Loop Capital set a $44.00 price objective on Miller Industries in a report on Monday, March 9th. DA Davidson increased their price objective on Miller Industries from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Miller Industries in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Miller Industries has an average rating of “Hold” and an average price target of $50.00.

Miller Industries Trading Up 1.9%

NYSE MLR opened at $48.79 on Monday. Miller Industries has a fifty-two week low of $33.81 and a fifty-two week high of $49.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 2.98. The stock has a 50 day simple moving average of $47.35 and a two-hundred day simple moving average of $43.28. The stock has a market cap of $556.16 million, a P/E ratio of 36.41 and a beta of 1.11.

Miller Industries (NYSE:MLR) last released its quarterly earnings data on Wednesday, May 6th. The auto parts company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.17). Miller Industries had a return on equity of 3.70% and a net margin of 2.08%.The business had revenue of $180.86 million during the quarter, compared to analysts’ expectations of $181.10 million. On average, analysts forecast that Miller Industries will post 1.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MLR. IFP Advisors Inc raised its position in shares of Miller Industries by 200.0% in the 4th quarter. IFP Advisors Inc now owns 906 shares of the auto parts company’s stock worth $34,000 after acquiring an additional 604 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Miller Industries by 66.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock worth $37,000 after acquiring an additional 329 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Miller Industries by 736.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,137 shares of the auto parts company’s stock worth $46,000 after acquiring an additional 1,001 shares in the last quarter. State of Wyoming bought a new position in shares of Miller Industries in the 3rd quarter worth approximately $113,000. Finally, Raymond James Financial Inc. bought a new position in shares of Miller Industries in the 2nd quarter worth approximately $125,000. Institutional investors own 79.24% of the company’s stock.

About Miller Industries

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.