ValuEngine Upgrades HNI (HNI) to Buy

ValuEngine upgraded shares of HNI (NYSE:HNI) from a hold rating to a buy rating in a research note published on Wednesday, July 25th.

Separately, Zacks Investment Research lowered shares of HNI from a hold rating to a sell rating in a report on Tuesday, April 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. HNI presently has a consensus rating of Hold and a consensus price target of $42.00.

Shares of HNI opened at $43.26 on Wednesday, according to MarketBeat.com. HNI has a 52 week low of $31.16 and a 52 week high of $45.40. The stock has a market capitalization of $1.90 billion, a P/E ratio of 21.96 and a beta of 1.47. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.78 and a current ratio of 1.23.

HNI (NYSE:HNI) last released its quarterly earnings results on Monday, July 23rd. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.10. HNI had a net margin of 4.13% and a return on equity of 15.89%. The company had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $525.00 million. During the same period last year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. equities research analysts expect that HNI will post 2.43 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $1.18 annualized dividend and a dividend yield of 2.73%. HNI’s payout ratio is currently 59.90%.

In related news, CEO Stanley A. Askren sold 32,712 shares of the firm’s stock in a transaction that occurred on Monday, June 4th. The shares were sold at an average price of $36.64, for a total value of $1,198,567.68. Following the transaction, the chief executive officer now owns 264,028 shares in the company, valued at $9,673,985.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Miguel M. Calado sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $42.56, for a total transaction of $42,560.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,547 shares of company stock worth $2,510,219. Insiders own 5.16% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in HNI by 9.2% in the first quarter. Principal Financial Group Inc. now owns 1,558,623 shares of the business services provider’s stock valued at $56,252,000 after buying an additional 131,086 shares during the period. MetLife Investment Advisors LLC purchased a new position in HNI in the fourth quarter valued at approximately $1,863,000. Vident Investment Advisory LLC purchased a new position in HNI in the fourth quarter valued at approximately $267,000. Two Sigma Investments LP purchased a new stake in shares of HNI during the fourth quarter valued at approximately $1,061,000. Finally, Deutsche Bank AG raised its stake in shares of HNI by 63.3% during the fourth quarter. Deutsche Bank AG now owns 216,510 shares of the business services provider’s stock valued at $8,349,000 after purchasing an additional 83,889 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

About HNI

HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, and Taiwan. The company's Office Furniture segment offers a range of metal and wood 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, basyx by HON, Lamex, and HNI India brands.

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Analyst Recommendations for HNI (NYSE:HNI)

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