HNI Corporation (HNI) Receives Consensus Rating of “Hold” from Analysts
HNI Corporation (NYSE:HNI) has earned a consensus rating of “Hold” from the nine analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $39.67.
HNI has been the subject of a number of research analyst reports. Raymond James Financial, Inc. raised HNI Corporation from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Wednesday, August 23rd. Citigroup Inc. raised HNI Corporation to an “outperform” rating and set a $42.00 price target on the stock in a research report on Wednesday, August 23rd. BidaskClub downgraded HNI Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. UBS AG raised HNI Corporation from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 23rd. Finally, Zacks Investment Research raised HNI Corporation from a “sell” rating to a “hold” rating in a research report on Monday, September 11th.
Shares of HNI Corporation (NYSE:HNI) opened at 42.86 on Friday. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 30.79 and a beta of 1.46. HNI Corporation has a one year low of $34.60 and a one year high of $56.94. The company has a 50 day moving average price of $39.92 and a 200 day moving average price of $40.75.
HNI Corporation (NYSE:HNI) last issued its earnings results on Monday, July 24th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.01). The firm had revenue of $514.50 million during the quarter, compared to analysts’ expectations of $516.10 million. HNI Corporation had a return on equity of 20.82% and a net margin of 2.94%. The business’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business earned $0.68 EPS. Equities analysts predict that HNI Corporation will post $2.45 EPS for the current year.
In other HNI Corporation news, Chairman Stanley A. Askren sold 12,000 shares of the stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $37.78, for a total transaction of $453,360.00. Following the sale, the chairman now directly owns 216,996 shares of the company’s stock, valued at approximately $8,198,108.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 36,000 shares of company stock worth $1,399,680 over the last ninety days. 5.16% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC grew its position in HNI Corporation by 102.7% during the 2nd quarter. SG Americas Securities LLC now owns 13,877 shares of the business services provider’s stock worth $553,000 after purchasing an additional 7,031 shares during the period. Dalton Greiner Hartman Maher & Co. grew its position in HNI Corporation by 325.9% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 421,823 shares of the business services provider’s stock worth $16,818,000 after purchasing an additional 322,791 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of HNI Corporation during the 1st quarter valued at about $284,000. Paloma Partners Management Co acquired a new stake in shares of HNI Corporation during the 1st quarter valued at about $931,000. Finally, AQR Capital Management LLC grew its position in shares of HNI Corporation by 320.7% during the 1st quarter. AQR Capital Management LLC now owns 196,911 shares of the business services provider’s stock valued at $9,076,000 after acquiring an additional 150,104 shares during the period. 68.99% of the stock is currently owned by 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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