HNI (NYSE:HNI) Rating Increased 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 report released on Tuesday, 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. “

Several other research analysts also recently commented on HNI. Sidoti set a $45.00 price target on shares of HNI and gave the stock a “hold” rating in a research note on Friday, May 31st. ValuEngine downgraded shares of HNI from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, TheStreet downgraded shares of HNI from a “b” rating to a “c+” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $45.00.



HNI stock opened at $31.02 on Tuesday. The company has a market capitalization of $1.33 billion, a PE ratio of 12.87 and a beta of 1.22. HNI has a 12 month low of $30.07 and a 12 month high of $44.79. The firm’s 50-day moving average is $33.32 and its 200 day moving average is $36.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.21 and a quick ratio of 0.75.

HNI (NYSE:HNI) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.03). The company had revenue of $526.00 million during the quarter, compared to analysts’ expectations of $551.13 million. HNI had a return on equity of 18.33% and a net margin of 4.02%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS. Sell-side analysts forecast that HNI will post 2.6 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in HNI by 39.3% during the 1st quarter. JPMorgan Chase & Co. now owns 162,272 shares of the business services provider’s stock valued at $5,889,000 after purchasing an additional 45,758 shares during the period. Victory Capital Management Inc. increased its position in HNI by 19.3% during the 1st quarter. Victory Capital Management Inc. now owns 29,541 shares of the business services provider’s stock valued at $1,072,000 after purchasing an additional 4,787 shares during the period. Great West Life Assurance Co. Can increased its position in HNI by 5.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 28,445 shares of the business services provider’s stock valued at $1,031,000 after purchasing an additional 1,456 shares during the period. Bank of America Corp DE increased its position in HNI by 32.8% during the 4th quarter. Bank of America Corp DE now owns 116,396 shares of the business services provider’s stock valued at $4,125,000 after purchasing an additional 28,751 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in HNI by 37.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 36,370 shares of the business services provider’s stock valued at $1,287,000 after purchasing an additional 10,000 shares during the period. 69.09% 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.

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