HNI (NYSE:HNI) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

HNI Corporation (NYSE:HNI)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $44.31 and traded as high as $52.59. HNI shares last traded at $51.7760, with a volume of 426,359 shares.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wall Street Zen cut shares of HNI from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Benchmark reiterated a “buy” rating on shares of HNI in a report on Friday, January 16th. Finally, Weiss Ratings upgraded shares of HNI from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 3rd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, HNI presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

HNI Stock Performance

The firm has a market cap of $2.37 billion, a P/E ratio of 17.37, a P/E/G ratio of 0.63 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.85 and a current ratio of 1.33. The business’s 50-day simple moving average is $44.81 and its 200 day simple moving average is $44.31.

Institutional Investors Weigh In On HNI

Large investors have recently made changes to their positions in the company. Cooke & Bieler LP purchased a new stake in HNI during the third quarter valued at approximately $28,744,000. New York State Common Retirement Fund grew its position in shares of HNI by 676.6% during the 2nd quarter. New York State Common Retirement Fund now owns 126,398 shares of the business services provider’s stock valued at $6,216,000 after acquiring an additional 110,122 shares during the period. Rhumbline Advisers grew its position in shares of HNI by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 134,220 shares of the business services provider’s stock valued at $6,601,000 after acquiring an additional 512 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of HNI by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,290 shares of the business services provider’s stock worth $6,311,000 after purchasing an additional 9,730 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in HNI by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,239 shares of the business services provider’s stock worth $1,252,000 after purchasing an additional 1,290 shares during the period. 75.26% of the stock is currently owned by institutional investors.

About HNI

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI’s Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.