7 Best Furniture Stocks To Invest In According to Analysts

4. MillerKnoll, Inc. (NASDAQ:MLKN)

Number of Hedge Fund Holders: 14

Analysts Upside Potential: 36.05%

MillerKnoll, Inc. (NASDAQ:MLKN) ranks as the 4th best furniture stock to invest in according to analysts. It was held by 14 hedge funds in Q2 2024, as per Insider Monkey’s database. Moreover, analysts’ 12-month median price target is pointing towards a 36.05% upside from the current levels.

It operates by creating and selling various kinds of furniture and related products. The company not only researches and designs the furniture but also sells it internationally through a robust portfolio of renowned brands including Herman Miller and Knoll.

MillerKnoll, Inc. (NASDAQ:MLKN) entered into fiscal 2025 with positive momentum. During the first quarter results for fiscal 2025, the company reported its overall orders increased by 3.5% year-over-year, with the American contract segment witnessing a 5.2% increase during the same time. The company ended the quarter with a backlog of $758 million indicating a 9.2% increase from last year.

Although orders for the quarter were up, however, customers requested longer lead times for shipments, pushing some revenue into future quarters. This resulted in the first quarter net sales to fall by 6.1% year-over-year to $861.5 million. Despite the fall in net sales management was able to maintain the gross margins for the quarter at 39.0%.

Looking ahead, the management of the company expects second quarter revenue for fiscal 2025 to be between $950 million to $990 million, with gross margins between 38.5% and 39.5%.

Vulcan Value Partners made the following comment about MillerKnoll, Inc. (NASDAQ:MLKN) in its Q3 2023 investor letter:

“MillerKnoll, Inc. (NASDAQ:MLKN) is a designer and manufacturer of premium furniture for the office and home. While there continues to be a fair amount of uncertainty as it relates to the future of office, the company performed well during the quarter due to strong execution, cost containment, and an indication from management that a positive inflection point in demand is in its sights. We continue to favor the quality of MillerKnoll’s collection of brands, its multi-channel distribution model, and its experienced management team.”