HNI (HNI) Upgraded at Zacks Investment Research
HNI (NYSE:HNI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “HNI Corp has two reportable core operating segments: office furniture and hearth products. They are the second largest office furniture manufacturer in the United States and the nation’s leading manufacturer and marketer of gas- and wood-burning fireplaces. “
A number of other analysts also recently issued reports on the stock. Raymond James Financial reiterated a “market perform” rating on shares of HNI in a report on Tuesday, October 24th. Rowe downgraded shares of HNI from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $44.50.
HNI (HNI) traded up $1.24 during midday trading on Tuesday, hitting $38.15. 225,215 shares of the stock were exchanged, compared to its average volume of 230,894. The company has a quick ratio of 0.74, a current ratio of 1.08 and a debt-to-equity ratio of 0.59. HNI has a 12 month low of $31.16 and a 12 month high of $56.94. The firm has a market capitalization of $1,602.90, a P/E ratio of 25.43 and a beta of 1.50.
HNI (NYSE:HNI) last posted its quarterly earnings data on Monday, October 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. HNI had a net margin of 3.08% and a return on equity of 21.09%. The company had revenue of $599.50 million for the quarter, compared to the consensus estimate of $585.07 million. During the same period last year, the company earned $0.80 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. sell-side analysts predict that HNI will post 1.94 earnings per share for the current fiscal year.
In related news, Chairman Stanley A. Askren sold 6,111 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $33.66, for a total transaction of $205,696.26. Following the transaction, the chairman now directly owns 214,750 shares in the company, valued at $7,228,485. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Stanley A. Askren sold 6,112 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $33.44, for a total transaction of $204,385.28. Following the transaction, the chairman now owns 218,163 shares in the company, valued at $7,295,370.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,375 shares of company stock worth $1,336,121. 5.16% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Systematic Financial Management LP increased its holdings in shares of HNI by 1.2% in the third quarter. Systematic Financial Management LP now owns 149,799 shares of the business services provider’s stock valued at $6,212,000 after purchasing an additional 1,790 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of HNI by 271.4% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,600 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 1,900 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of HNI by 18.6% in the third quarter. SG Americas Securities LLC now owns 16,463 shares of the business services provider’s stock valued at $683,000 after purchasing an additional 2,586 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of HNI by 8.9% in the third quarter. Rhumbline Advisers now owns 95,340 shares of the business services provider’s stock valued at $3,954,000 after purchasing an additional 7,783 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of HNI by 2.2% in the third quarter. Frontier Capital Management Co. LLC now owns 1,048,786 shares of the business services provider’s stock valued at $43,493,000 after purchasing an additional 22,330 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.
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HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.
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