BB&T Capital Downgrades Herman Miller to Hold

Brokerage firm BB&T Capital Downgrades its rating on Herman Miller(NASDAQ:MLHR). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by BB&T Capital was issued on Jun 24, 2016.

Herman Miller (MLHR) made into the market gainers list on Wednesdays trading session with the shares advancing 2.79% or 0.79 points. Due to strong positive momentum, the stock ended at $29.14, which is also near the day’s high of $29.16. The stock began the session at $28.76 and the volume stood at 6,30,160 shares. The 52-week high of the shares is $34.07 and the 52 week low is $22.6. The company has a current market capitalization of $1,746 M and it has 5,99,08,233 shares in outstanding.

Herman Miller(MLHR) last announced its earnings results on Jun 22, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $582.60M. Analysts had an estimated revenue of $568.55M. Earnings per share were $0.56. Analysts had estimated an EPS of $0.52.

Several Insider Transactions has been reported to the SEC. On Apr 27, 2016, Dorothy A Terrell (director) sold 6,100 shares at $30.76 per share price.Also, On Jan 22, 2016, Douglas D French (director) sold 976 shares at $24.92 per share price.On Oct 22, 2015, David O Ulrich (director) sold 11,922 shares at $31.99 per share price, according to the Form-4 filing with the securities and exchange commission.

Herman Miller Inc. researches designs manufactures and distributes interior furnishings for use in various environments including office healthcare educational and residential settings and provides related services that support organizations and individuals all over the world. It operates in three segments: North American Furniture Solutions which includes the operations associated with the design manufacture and sale of furniture products for work-related settings including office education and healthcare environments throughout the United States and Canada; ELA Furniture Solutions which includes EMEA Latin America and Asia-Pacific. ELA Furniture Solutions includes the operations associated with the design manufacture and sale of furniture products primarily for work-related settings in these aforementioned geographic regions; and Specialty and Consumer which includes the operations associated with the design manufacture and sale of furniture products.

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