Herman Miller Crumbles: MLHR Falls 6.2% in Session

Zacks

Herman Miller Inc. (MLHR) saw a big move last session, as the company’s shares fell over 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as MLHR is now trading below the volatile price range of $30.5 to $32.3 in the past one-month time frame.

This Business Products provider has seen a flat track record when it comes to current year estimate revisions, as there has been no revision on either side over the past few weeks. The consensus for earnings estimate hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
 
MLHR currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
 
Some better-ranked stocks in the Business Services sector include Avis Budget Group, Inc. (CAR), US Ecology, Inc. (ECOL) and Genpact Limited (G).  All these stocks carry a Zacks Rank #1 (Strong Buy).
 
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