HNI (HNI) Earns Neutral Rating from Seaport Global Securities
HNI (NYSE:HNI)‘s stock had its “neutral” rating reiterated by stock analysts at Seaport Global Securities in a note issued to investors on Monday. Seaport Global Securities also issued estimates for HNI’s Q2 2018 earnings at $0.57 EPS and Q3 2018 earnings at $0.99 EPS.
Several other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of HNI from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Raymond James Financial reaffirmed a “market perform” rating on shares of HNI in a research note on Tuesday, October 24th. Finally, Rowe lowered shares of HNI from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. HNI currently has a consensus rating of “Hold” and a consensus price target of $42.00.
HNI (HNI) opened at $37.26 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.68 and a current ratio of 1.00. The firm has a market cap of $1,590.00, a PE ratio of 18.45 and a beta of 1.44. HNI has a 12 month low of $31.16 and a 12 month high of $48.32.
In other news, CEO Stanley A. Askren sold 3,021 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $35.07, for a total value of $105,946.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald V. Waters sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $40.00, for a total transaction of $200,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 29,375 shares of company stock valued at $1,027,081. Insiders own 5.16% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of HNI. Fuller & Thaler Asset Management Inc. lifted its stake in 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 worth $108,000 after acquiring an additional 1,900 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in HNI in the fourth quarter worth approximately $239,000. Stoneridge Investment Partners LLC purchased a new position in HNI in the fourth quarter worth approximately $366,000. SG Americas Securities LLC lifted its stake in HNI by 18.6% in the third quarter. SG Americas Securities LLC now owns 16,463 shares of the business services provider’s stock worth $683,000 after acquiring an additional 2,586 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in HNI by 51.8% in the third quarter. New York State Common Retirement Fund now owns 71,200 shares of the business services provider’s stock worth $2,953,000 after acquiring an additional 24,300 shares during the last quarter. 70.88% of the stock is owned by institutional investors and hedge funds.
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HNI Company Profile
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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