Miller Industries (NYSE:MLR) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Miller Industries, Inc. (NYSE:MLR)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $40.08 and traded as high as $44.77. Miller Industries shares last traded at $44.1440, with a volume of 37,049 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Loop Capital set a $46.00 price target on Miller Industries in a report on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of Miller Industries in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.00.

Miller Industries Stock Down 0.3%

The stock has a market capitalization of $504.57 million, a price-to-earnings ratio of 16.98 and a beta of 1.25. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.46 and a quick ratio of 2.13. The business has a fifty day moving average of $39.69 and a 200 day moving average of $40.08.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new stake in shares of Miller Industries in the 3rd quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its holdings in Miller Industries by 66.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock valued at $37,000 after purchasing an additional 329 shares during the last quarter. CWM LLC raised its position in Miller Industries by 121.7% in the third quarter. CWM LLC now owns 849 shares of the auto parts company’s stock valued at $34,000 after purchasing an additional 466 shares during the period. IFP Advisors Inc lifted its stake in Miller Industries by 200.0% during the fourth quarter. IFP Advisors Inc now owns 906 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 604 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Miller Industries by 736.0% in the third quarter. Russell Investments Group Ltd. now owns 1,137 shares of the auto parts company’s stock valued at $46,000 after buying an additional 1,001 shares in the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

About Miller Industries

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.