Benchmark Co. analyst Reuben Garner has maintained their neutral stance on MLKN stock, giving a Hold rating on September 20.
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Reuben Garner has given his Hold rating due to a combination of factors influencing MillerKnoll’s current financial standing. The company reported strong first-quarter results for fiscal year 2026, with revenue, EBITDA, and EPS surpassing market expectations. This performance was driven by sales growth across all segments, which helped leverage fixed costs despite ongoing investments in retail expansion. However, the guidance for the second quarter aligns with market consensus, indicating that while order patterns are stabilizing, there remains some uncertainty.
Despite the positive sales momentum, Garner notes that margin pressures persist in the near term. The benefits from tariff-related pricing actions are not expected to fully materialize until the latter half of fiscal year 2026, and the company faces incremental expenses related to its retail expansion plans. These factors constrain immediate profitability growth unless there is a significant improvement in the broader economic environment. Consequently, while there is potential for upside from volume growth, the current conditions justify maintaining a Hold rating.
Garner covers the Industrials sector, focusing on stocks such as TopBuild, Bluelinx Holdings, and CaesarStone Sdot-Yam. According to TipRanks, Garner has an average return of 15.7% and a 58.33% success rate on recommended stocks.
In another report released on September 20, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $19.50 price target.