HNI (HNI) Lifted to “Hold” at Zacks Investment Research

HNI (NYSE:HNI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “HNI Corporation provide products and solutions for the home and workplace environments. HNI is a leading global provider and designer of office furniture and the leading manufacturer and marketer of hearth products. HNI Corporation sell the broadest and deepest selection of quality office furniture solutions available to meet the needs of every customer through an extensive portfolio of well-known and trusted brands. HNI Corporation hearth products are the strongest, most respected brands in the industry and include a full array of gas, electric, wood and biomass burning fireplaces, inserts, stoves, facings and accessories. “

HNI has been the topic of several other research reports. TheStreet raised HNI from a “c+” rating to a “b” rating in a research note on Friday, February 15th. Seaport Global Securities reissued a “neutral” rating on shares of HNI in a research note on Wednesday, February 27th. Finally, Sidoti downgraded HNI from a “buy” rating to a “neutral” rating and dropped their price target for the company from $47.00 to $43.00 in a research note on Tuesday, February 26th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. HNI currently has an average rating of “Hold” and an average target price of $43.00.



HNI stock opened at $36.11 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.84 and a current ratio of 1.30. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 14.98 and a beta of 1.28. HNI has a 1-year low of $32.99 and a 1-year high of $45.40.

HNI (NYSE:HNI) last posted its earnings results on Monday, April 22nd. The business services provider reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The firm had revenue of $479.50 million for the quarter, compared to analyst estimates of $485.33 million. HNI had a return on equity of 18.89% and a net margin of 4.12%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. Analysts predict that HNI will post 2.68 earnings per share for the current year.

In other HNI news, Director Ronald V. Waters sold 5,000 shares of HNI stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $42.09, for a total value of $210,450.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of HNI by 5.6% in the first quarter. Geode Capital Management LLC now owns 509,669 shares of the business services provider’s stock valued at $18,495,000 after buying an additional 26,899 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of HNI by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 469,063 shares of the business services provider’s stock valued at $17,023,000 after buying an additional 28,524 shares during the period. AQR Capital Management LLC boosted its stake in shares of HNI by 13.9% in the first quarter. AQR Capital Management LLC now owns 24,747 shares of the business services provider’s stock valued at $898,000 after buying an additional 3,013 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of HNI by 83.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 20,940 shares of the business services provider’s stock valued at $760,000 after buying an additional 9,520 shares during the period. Finally, Hancock Whitney Corp boosted its stake in shares of HNI by 2.8% in the first quarter. Hancock Whitney Corp now owns 44,256 shares of the business services provider’s stock valued at $1,606,000 after buying an additional 1,215 shares during the period. 72.50% of the stock is currently owned by institutional investors and hedge funds.

HNI Company Profile

HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, Lamex, and HNI India brands.

Further Reading: What is cost of equity?

Get a free copy of the Zacks research report on HNI (HNI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for HNI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HNI and related companies with MarketBeat.com's FREE daily email newsletter.