DA Davidson Reaffirms Buy Rating for Miller Industries (NYSE:MLR)

Miller Industries (NYSE:MLR)‘s stock had its “buy” rating reissued by DA Davidson in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $82.00 target price on the auto parts company’s stock. DA Davidson’s price objective suggests a potential upside of 23.31% from the company’s current price.

Separately, StockNews.com lowered shares of Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday.

Miller Industries Trading Down 1.3 %

NYSE MLR traded down $0.91 on Friday, reaching $66.50. The company had a trading volume of 36,072 shares, compared to its average volume of 75,942. The business has a 50 day moving average of $63.64 and a two-hundred day moving average of $60.45. Miller Industries has a fifty-two week low of $38.33 and a fifty-two week high of $78.25. The firm has a market cap of $760.76 million, a price-to-earnings ratio of 11.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.44.

Hedge Funds Weigh In On Miller Industries

Hedge funds have recently added to or reduced their stakes in the stock. Verition Fund Management LLC lifted its holdings in Miller Industries by 3.5% during the third quarter. Verition Fund Management LLC now owns 5,773 shares of the auto parts company’s stock valued at $352,000 after purchasing an additional 194 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in Miller Industries by 2.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company’s stock worth $452,000 after purchasing an additional 201 shares during the period. Ellsworth Advisors LLC increased its position in shares of Miller Industries by 3.6% in the 3rd quarter. Ellsworth Advisors LLC now owns 11,842 shares of the auto parts company’s stock valued at $722,000 after purchasing an additional 411 shares during the last quarter. Point72 DIFC Ltd lifted its position in shares of Miller Industries by 146.9% during the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 595 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Miller Industries during the 2nd quarter worth about $39,000. 79.24% of the stock is currently owned by 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.