HNI Corporation (NYSE:HNI) Receives Consensus Rating of “Hold” from Analysts
Shares of HNI Corporation (NYSE:HNI) have been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $35.00.
Several analysts have recently weighed in on HNI shares. TheStreet cut shares of HNI Corporation from a “b-” rating to a “c+” rating in a research note on Tuesday, June 20th. Zacks Investment Research cut shares of HNI Corporation from a “hold” rating to a “sell” rating in a research note on Monday, April 24th. Finally, BidaskClub cut shares of HNI Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th.
HNI Corporation (NYSE:HNI) opened at 36.21 on Tuesday. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 26.01 and a beta of 1.41. HNI Corporation has a 12-month low of $35.55 and a 12-month high of $56.96. The stock’s 50 day moving average price is $39.21 and its 200 day moving average price is $44.32.
HNI Corporation (NYSE:HNI) last posted its quarterly earnings data on Monday, July 24th. The business services provider reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The firm had revenue of $514.50 million for the quarter, compared to analyst estimates of $516.10 million. HNI Corporation had a return on equity of 20.82% and a net margin of 2.94%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. On average, equities research analysts anticipate that HNI Corporation will post $2.45 earnings per share for the current fiscal year.
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In other news, Chairman Stanley A. Askren sold 11,264 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $46.01, for a total transaction of $518,256.64. Following the sale, the chairman now directly owns 204,996 shares of the company’s stock, valued at $9,431,865.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.16% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. KCG Holdings Inc. acquired a new position in shares of HNI Corporation during the first quarter worth about $205,000. Laurion Capital Management LP acquired a new position in shares of HNI Corporation during the first quarter worth about $221,000. Bank of Montreal Can boosted its position in shares of HNI Corporation by 27.2% in the first quarter. Bank of Montreal Can now owns 4,819 shares of the business services provider’s stock worth $222,000 after buying an additional 1,030 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of HNI Corporation during the first quarter worth about $284,000. Finally, SG Americas Securities LLC boosted its position in shares of HNI Corporation by 64.9% in the first quarter. SG Americas Securities LLC now owns 6,846 shares of the business services provider’s stock worth $316,000 after buying an additional 2,695 shares during the last quarter. 70.93% of the stock is currently owned by hedge funds and other institutional investors.
About HNI Corporation
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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