Price Action Alert: Could Miller Industries, Inc. Lose its Strength? The Stock Reaches 52-Week High

Price Action Alert: Could Miller Industries, Inc. Lose its Strength? The Stock Reaches 52 Week High

The stock of Miller Industries, Inc. (NYSE:MLR) hit a new 52-week high and has $42.23 target or 64.00% above today’s $25.75 share price. The 9 months bullish chart indicates low risk for the $292.72 million company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $42.23 price target is reached, the company will be worth $187.34M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 70,172 shares traded hands or 200.34% up from the average. Miller Industries, Inc. (NYSE:MLR) has risen 15.61% since April 19, 2016 and is uptrending. It has outperformed by 11.75% the S&P500.

According to Zacks Investment Research, “Miller Industries, Inc. is a leading integrated provider of vehicle towing and recovery equipment and services. The Company’s business is divided into two segments: (i) manufacturing and distributing towing and recovery equipment and providing financial and related services to the towing and recovery industry and (ii) providing towing and specialized transportation services. The Company markets its towing and recovery equipment under several well-recognized brand names and markets its towing services under the national brand name of RoadOne(R).”

Insitutional Activity: The institutional sentiment increased to 1.44 in Q2 2016. Its up 0.44, from 1 in 2016Q1. The ratio is positive, as 9 funds sold all Miller Industries, Inc. shares owned while 25 reduced positions. 10 funds bought stakes while 24 increased positions. They now own 9.61 million shares or 0.18% less from 9.63 million shares in 2016Q1.
Geode Capital Mngmt last reported 70,020 shares in the company. Invesco last reported 0% of its portfolio in the stock. Royal Savings Bank Of Canada has invested 0% of its portfolio in Miller Industries, Inc. (NYSE:MLR). Morgan Dempsey Capital Lc has invested 0.53% of its portfolio in Miller Industries, Inc. (NYSE:MLR). Systematic Financial Limited Partnership holds 0% or 12,746 shares in its portfolio. Gsa Partners Llp, a United Kingdom-based fund reported 20,094 shares. California Pub Employees Retirement System owns 47,400 shares or 0% of their US portfolio. Moreover, Comml Bank Of Ny Mellon Corporation has 0% invested in Miller Industries, Inc. (NYSE:MLR) for 111,335 shares. The California-based Wells Fargo And Mn has invested 0% in Miller Industries, Inc. (NYSE:MLR). Strs Ohio has 0% invested in the company for 8,300 shares. Us Bancorporation De holds 0% of its portfolio in Miller Industries, Inc. (NYSE:MLR) for 16,578 shares. Vanguard Grp Inc Inc reported 335,107 shares or 0% of all its holdings. Blackrock Japan holds 0% or 201 shares in its portfolio. Metropolitan Life Ins New York holds 0% of its portfolio in Miller Industries, Inc. (NYSE:MLR) for 8,461 shares. Blackrock Ltd owns 3,747 shares or 0% of their US portfolio.

More notable recent Miller Industries, Inc. (NYSE:MLR) news were published by: Prnewswire.com which released: “Miller Industries Reports 2016 Third Quarter Results” on November 09, 2016, also Prnewswire.com with their article: “Miller Industries Reports 2016 Second Quarter Results” published on August 03, 2016, Timesfreepress.com published: “Miller Industries adding on to its US plants as demand ramps up” on March 17, 2016. More interesting news about Miller Industries, Inc. (NYSE:MLR) were released by: Timesfreepress.com and their article: “Miller Industries start expansions in Ooltewah and Greeneville after strong …” published on March 09, 2016 as well as Timesfreepress.com‘s news article titled: “Miller Industries sales rise but plant shutdown curbs net income” with publication date: November 04, 2015.

MLR Company Profile

Miller Industries, Inc., incorporated on April 28, 1994, is a maker of towing and recovery equipment. The Firm makes the bodies of wreckers and car carriers, which are installed on truck chassis manufactured by third parties. The Firm purchases truck chassis for resale its customers. The Firm also makes vehicle transport trailers. The Company’s products are sold through independent distributors that serve approximately 50 states, Canada and Mexico, and other foreign markets, including Europe, the Pacific Rim, the Middle East, South America and Africa, and through prime contractors to governmental entities. The Company’s products are offered under various brands, including Century, Vulcan, Challenger, Holmes, Champion, Chevron, Eagle, Titan, Jige and Boniface.

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