Technicalspeculator.com’s Trade-of-the-Week: Herman Millar Inc. (MLHR)

By Tech_Spec Forbidden
3-July-2019 1:01:35 PM
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This week’s trade comes from the consumer discretionary sector of Nasdaq.  Enjoy.

Company profile: Herman Miller, Inc. engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.   It also offers wood casegoods under the Geiger name; freestanding furniture products under the Abak, Intent, Sense, and Envelop names; and healthcare products under the Palisade, Compass, Nala, Ava, and Nemschoff names, as well as provides,  Thrive portfolio of ergonomic solutions and textiles, and data analytics solutions. In addition, the company provides products for residential settings under the Eames, Nelson, Bubble Lamps, Airia, Ardea, Bumper, Burdick Group, Everywhere tables, Claw, Caper, Distil, Envelope, Formwork, Full Round, H Frame, I Beam, Landmark, Logic Mini, Logic Power Access Solutions, Renew, Rolled Arm, Scissor, Sled, Soft Pad, Swoop, Tone, Twist, Ward Bennett, and Wireframe names. Its products are used in institutional environments, including offices and related conference, lobby, and lounge areas, as well as general public areas, such as transportation terminals; health/science environments comprising hospitals, clinics, and other healthcare facilities; industrial and educational settings; and residential and other environments. The company markets its products through its sales staff, own dealer network, independent dealers and retailers, and independent contract office furniture dealers, as well as through e-commerce Website. Herman Miller, Inc. was founded in 1905 and is headquartered in Zeeland, Michigan.

 

Fundamentals

Trailing P/E: 16.56, Forward P/E:

EPS: 2.70, Beta: 1.70

PEG: 0.27, P/S: 1.02, P/B: 3.65

Profit margin: 6.25%, Operating margin: 8.32%

Qrtly earnings growth: 45.30%, Current ratio: 1.48

Additional fundamental data: https://finance.yahoo.com/quote/MLHR/key-statistics?p=MLHR

 

Technicals:

The recent breakout of an 18-month consolidation

New 52 week high, New all-time high

Buying momentum is overbought, Buying volume has spiked in late June

1st support line is at $40

 

The target is at $49.50

Suggested buying approach: As MLHR is overvalued and has advanced too fast and too far, we suggest waiting for a pull back before buying. Once the retracement has occurred, wait for confirmation of support and then buy. Always use a 3% trailing stop.

For more trading ideas, sign up for a free account at www.technicalspeculator.com.  Do it today!

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Author: Tech_Spec

Canada’s only Master of Financial Technical Analysis (MFTA). This 4 – 5 year program offered by the International Federation of Technical Analysts (IFTA) in England is regarded as the global standard. • Instructor of Technical Analysis for the Canadian Securities Institute (CSI). My role is teaching market analysis to industry professionals. • Financial Technical Analyst offering 25 years experience in the financial and investment service industry. • Editor and owner of the Technicalspeculator.com, an on-line independent financial market research and newsletter website. • Registered Securities Advisor

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