HNI Corporation (HNI) Given Consensus Recommendation of “Hold” by Analysts

HNI Corporation (NYSE:HNI) has been assigned an average recommendation of “Hold” from the nine analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $38.50.

HNI has been the topic of several research reports. Zacks Investment Research upgraded shares of HNI from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Raymond James Financial reiterated a “market perform” rating on shares of HNI in a research report on Tuesday, October 24th. Finally, Rowe cut shares of HNI from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 24th.

In related news, Chairman Stanley A. Askren sold 6,111 shares of HNI stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $33.66, for a total value of $205,696.26. Following the transaction, the chairman now owns 214,750 shares of the company’s stock, valued at approximately $7,228,485. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Stanley A. Askren sold 12,000 shares of HNI stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $42.42, for a total value of $509,040.00. The disclosure for this sale can be found here. Insiders sold a total of 36,375 shares of company stock worth $1,336,121 in the last three months. 5.16% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Frontier Capital Management Co. LLC grew its stake in HNI by 2.2% during the 3rd 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 acquiring an additional 22,330 shares in the last quarter. Russell Investments Group Ltd. grew its stake in HNI by 5,066.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 240,441 shares of the business services provider’s stock valued at $9,972,000 after acquiring an additional 235,787 shares in the last quarter. Systematic Financial Management LP grew its stake in HNI by 1.2% during the 3rd quarter. Systematic Financial Management LP now owns 149,799 shares of the business services provider’s stock valued at $6,212,000 after acquiring an additional 1,790 shares in the last quarter. Rhumbline Advisers grew its stake in HNI by 8.9% during the 3rd quarter. Rhumbline Advisers now owns 95,340 shares of the business services provider’s stock valued at $3,954,000 after acquiring an additional 7,783 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in HNI by 51.8% during the 3rd quarter. New York State Common Retirement Fund now owns 71,200 shares of the business services provider’s stock valued at $2,953,000 after acquiring an additional 24,300 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors.

Shares of HNI (NYSE:HNI) opened at $38.71 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.08 and a quick ratio of 0.74. HNI has a 1 year low of $31.16 and a 1 year high of $55.48. The company has a market cap of $1,680.00, a PE ratio of 25.98 and a beta of 1.49.

HNI (NYSE:HNI) last issued its quarterly earnings results on Monday, October 23rd. The business services provider reported $0.82 EPS for the quarter, topping the 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 firm had revenue of $599.50 million for the quarter, compared to analysts’ expectations of $585.07 million. During the same period in the previous year, the business earned $0.80 earnings per share. HNI’s revenue for the quarter was up 2.5% compared to the same quarter last year. equities analysts anticipate that HNI will post 1.94 EPS for the current year.

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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.

Analyst Recommendations for HNI (NYSE:HNI)

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