Miller Industries

MLR · NYSE

$52.29+$0.83 (+1.61%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $51.46

MLR analyst rating

BuyConsensus of 2 analysts over the last 12 months. 50% rate it a buy.

Strong buy0
Buy1
Hold1
Underperform0
Sell0

12-month price target · 3 analysts

Average $59.16 (+13.1% upside)

Low: $52.52
Now: $52.29
High: $67.20

Upgrades and downgrades

The latest rating actions, newest first

MLR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
DA Davidson	Aug 10, 2026	Maintains	Buy	$56.00 → $64.00	54%
DA Davidson	May 11, 2026	Maintains	Buy	$53.00 → $56.00	54%
DA Davidson	Mar 9, 2026	Maintains	Buy	$52.00 → $53.00	54%
Freedom Broker	Mar 9, 2026	Maintains	Hold	$46.00 → $44.00	40%
Freedom Broker	Nov 10, 2025	Downgrade	Buy → Hold	$62.00 → $46.00	40%

The case for and against

Updated Oct 14, 2026

Bull case

Miller Industries is supported by durable end-market drivers, including more miles driven, aging vehicles, and denser traffic, which help sustain tow truck demand and have underpinned a double-digit revenue CAGR over the last few decades. The company’s outlook also benefits from improving pricing and mix, a maintained 2026 revenue guide of $850M-$900M, and 2Q:26 revenue of $239.9M and EPS of $0.63 beating estimates, despite one-time Omars-related charges. Further upside comes from margin tailwinds such as mid-13% normalized gross margins, late-2027 Military orders, and the 2028+ new facility, which should ease bottlenecks and support higher profitability.

Bear case

Miller Industries is viewed negatively because its recent growth appears constrained by operating near capacity, which could limit sales expansion unless management finds new efficiencies or materially expands production. The investment case is also vulnerable to execution and governance risks, including dependence on Will Miller’s leadership, activist involvement that can create distraction, and small-cap low-float volatility that can amplify share-price swings. In addition, the company faces structural uncertainty from chassis supply dependence, potential EV tow-truck regulations in states such as California, and the possibility that long-standing tailwinds like higher miles driven and an aging vehicle fleet may not persist.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.