In a report issued on August 11, Budd Bugatch from Raymond James maintained a Buy rating on Herman Miller (NASDAQ: MLHR), with a price target of $43. The company’s shares closed on Friday at $37.95.
According to TipRanks.com, Bugatch is a 4-star analyst with an average return of 8.0% and a 58.5% success rate. Bugatch covers the Services sector, focusing on stocks such as Restoration Hardware Holdings Inc, Wal-Mart Stores Inc, and Bed Bath & Beyond.
Currently, the analyst consensus on Herman Miller is a Moderate Buy with an average price target of $43.
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Based on Herman Miller’s latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $618 million and net profit of $31.8 million. In comparison, last year the company had a net profit of $33.4 million.
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. Last month, Brian C. Walker, the CEO of MLHR sold 14,400 shares for a total of $549,648.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Herman Miller, Inc. engages in the provision of furnishings and related technologies and services. It operates through the following segments: North American Furniture Solutions, ELA Furniture Solutions, Specialty, Consumer, and Corporate.
