Miller Industries (NYSE:MLR) Now Covered by DA Davidson

DA Davidson began coverage on shares of Miller Industries (NYSE:MLR) in a report issued on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $82.00 price target on the auto parts company’s stock. DA Davidson’s price target suggests a potential upside of 32.60% from the stock’s previous close.

Separately, StockNews.com downgraded Miller Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 12th.

Miller Industries Stock Performance

Shares of MLR opened at $61.84 on Wednesday. Miller Industries has a 52-week low of $34.96 and a 52-week high of $69.75. The firm has a market capitalization of $709.30 million, a PE ratio of 10.79 and a beta of 0.96. The firm has a 50-day moving average price of $60.57 and a 200 day moving average price of $57.04. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.18.

Miller Industries (NYSE:MLR) last posted its quarterly earnings data on Wednesday, August 7th. The auto parts company reported $1.78 EPS 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 for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Narwhal Capital Management acquired a new stake in shares of Miller Industries during the 1st quarter valued at $3,670,000. Hillsdale Investment Management Inc. boosted its position in shares of Miller Industries by 1,404.6% in the 1st quarter. Hillsdale Investment Management Inc. now owns 57,173 shares of the auto parts company’s stock valued at $2,864,000 after purchasing an additional 53,373 shares during the period. Millennium Management LLC increased its stake in Miller Industries by 94.1% in the 2nd quarter. Millennium Management LLC now owns 63,360 shares of the auto parts company’s stock worth $3,486,000 after purchasing an additional 30,714 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Miller Industries by 19.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 152,762 shares of the auto parts company’s stock worth $7,653,000 after purchasing an additional 24,993 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Miller Industries during the 2nd quarter worth about $1,079,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

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.