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Herman Miller Inc. Message Board

  • j5314 j5314 Mar 19, 1998 8:17 PM Flag

    Nice upside breakout in progress?

    Volume was very good today. There was at least 15 trades of 10000 shares that went at the ask today at 33.5, 33.625 and 33.75. It looks as if some institution is buying rapidly or a very deep pocketed investor. Do you think a brokerage house is about to institute coverage and someone is getting in before the big push? Or do you think that it is because of coverage beginnig on SCS. I would be interested to hear anyone's comments. Thanks!

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    • Looks good. $42 to 45 could be the # for 5/1.

      • 1 Reply to insguy007
      • With earnings of 1.25 per share, $42 to 45 would be a P/E would be 33.6 to 36. Miller ranges between P/E of 23 and 29
        hitting the low end with earnings anouncement and drifting to the high end after the market digests the earnings surprise. Look for
        a high of $38 +/-1 between now and the next earnings surprise. The furniture biz usually experiences slow times early in the
        year with busy times following in summer and at year end. So look for Miller and the big dark blue (SCS) to move up nicely in the
        near term, go sideways for a quarter and then both announce a split next January.
        Hey Kahuna, if you work in TuSCStin leave a message at extension 353.

 
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