Herman Miller, Inc. (MLHR) Can’t Be More Risky. The Stock Formed a Bearish Double Bottom

September 17, 2017 - By Vivian Currie

Investors sentiment increased to 1.08 in 2016 Q4. Its up 0.22, from 0.86 in 2016Q3. It increased, as 31 investors sold Herman Miller, Inc. shares while 68 reduced holdings. 36 funds opened positions while 71 raised stakes. 47.48 million shares or 2.00% less from 48.45 million shares in 2016Q3 were reported.
Thomas Story Son Ltd Liability Company invested in 7,400 shares. Prelude Mngmt Ltd Limited Liability Company holds 0% of its portfolio in Herman Miller, Inc. (NASDAQ:MLHR) for 324 shares. Advantus Capital Mngmt reported 7,454 shares or 0.01% of all its holdings. Opus Grp Incorporated Limited Co has invested 0.85% in Herman Miller, Inc. (NASDAQ:MLHR). Clearbridge reported 0.01% in Herman Miller, Inc. (NASDAQ:MLHR). Metropolitan Life Insurance New York holds 0.02% or 95,907 shares in its portfolio. Sg Americas Limited Liability Co invested in 8,115 shares or 0% of the stock. 6,402 were reported by Ronald Blue & Ltd Llc. Palisade Capital Mgmt Lc Nj reported 430,825 shares stake. Gardner Russo & Gardner Lc accumulated 211,866 shares. Mutual Of America Mgmt Limited holds 45,675 shares or 0.03% of its portfolio. Federated Invsts Pa holds 34,189 shares or 0% of its portfolio. Moreover, Bancorporation Of New York Mellon Corporation has 0.01% invested in Herman Miller, Inc. (NASDAQ:MLHR) for 893,239 shares. Paloma Ptnrs Com has 70,890 shares for 0.02% of their portfolio. Barrow Hanley Mewhinney Strauss Ltd invested in 190,226 shares or 0.01% of the stock.

Since March 30, 2017, it had 0 buys, and 3 insider sales for $669,549 activity. Watson Bruce Benedict sold $302,125 worth of stock or 8,925 shares. LOCK ANDREW J sold $28,602 worth of stock or 908 shares. Goeman Donald D had sold 10,011 shares worth $338,822 on Tuesday, May 2.

The chart of Herman Miller, Inc. (MLHR) shows a double bottom with $33.22 target or 4.00 % below today’s $34.60 share price. The 7 months chart pattern indicates high risk for the $2.07B company. It was reported on Sep, 17 by Finviz.com. If the $33.22 price target is reached, the company will be worth $82.80 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.47% or $0.5 on September 15, reaching $34.6. About 585,157 shares traded or 69.48% up from the average. Herman Miller, Inc. (NASDAQ:MLHR) has risen 6.46% since September 17, 2016 and is uptrending. It has underperformed by 10.24% the S&P500.

Analysts await Herman Miller, Inc. (NASDAQ:MLHR) to report earnings on September, 20 after the close. They expect $0.57 EPS, down 5.00 % or $0.03 from last year’s $0.6 per share. MLHR’s profit will be $34.10 million for 15.18 P/E if the $0.57 EPS becomes a reality. After $0.64 actual EPS reported by Herman Miller, Inc. for the previous quarter, Wall Street now forecasts -10.94 % negative EPS growth.

Herman Miller, Inc. (NASDAQ:MLHR) Ratings Coverage

Among 4 analysts covering Herman Miller (NASDAQ:MLHR), 1 have Buy rating, 1 Sell and 2 Hold. Therefore 25% are positive. Herman Miller had 5 analyst reports since December 18, 2015 according to SRatingsIntel. The rating was initiated by Seaport Global on Friday, November 4 with “Neutral”. As per Tuesday, January 3, the company rating was downgraded by Raymond James. As per Friday, December 18, the company rating was downgraded by Raymond James. The rating was downgraded by BB&T Capital to “Hold” on Friday, June 24. The stock of Herman Miller, Inc. (NASDAQ:MLHR) earned “Buy” rating by Sidoti on Tuesday, June 27.

More recent Herman Miller, Inc. (NASDAQ:MLHR) news were published by: Seekingalpha.com which released: “Another Furniture Maker With 20% Upside: Herman Miller” on June 28, 2017. Also Prnewswire.com published the news titled: “Herman Miller Reports Fourth Quarter Fiscal 2017 Results” on July 05, 2017. Prnewswire.com‘s news article titled: “Herman Miller Introduces a New Digital System, Connecting Furniture to Help …” with publication date: June 12, 2017 was also an interesting one.

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