HNI Corporation (NYSE:HNI) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of HNI Corporation (NYSE:HNI) from a sell rating to a hold rating in a research report sent to investors on Monday, September 11th.

According to Zacks, “HNI Corp has two reportable core operating segments: office furniture and hearth products. They are the second largest office furniture manufacturer in the United States and the nation’s leading manufacturer and marketer of gas- and wood-burning fireplaces. “

A number of other equities analysts also recently commented on HNI. BidaskClub downgraded HNI Corporation from a hold rating to a sell rating in a research report on Saturday, June 17th. TheStreet downgraded HNI Corporation from a b- rating to a c+ rating in a research report on Tuesday, June 20th. UBS AG raised HNI Corporation from a market perform rating to an outperform rating in a research report on Wednesday, August 23rd. Citigroup Inc. raised HNI Corporation to an outperform rating and set a $42.00 price objective for the company in a research report on Wednesday, August 23rd. Finally, Raymond James Financial, Inc. raised HNI Corporation from a market perform rating to an outperform rating and set a $42.00 price objective for the company in a research report on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $44.50.

Shares of HNI Corporation (HNI) traded up 0.99% during midday trading on Monday, reaching $38.64. 15,312 shares of the company’s stock were exchanged. The stock has a market cap of $1.70 billion, a PE ratio of 27.76 and a beta of 1.41. HNI Corporation has a 12-month low of $34.60 and a 12-month high of $56.94. The stock’s 50 day moving average is $36.41 and its 200-day moving average is $41.44.

HNI Corporation (NYSE:HNI) last issued its quarterly earnings results on Monday, July 24th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.01). HNI Corporation had a return on equity of 20.82% and a net margin of 2.94%. The business had revenue of $514.50 million for the quarter, compared to analysts’ expectations of $516.10 million. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities analysts expect that HNI Corporation will post $2.45 EPS for the current year.

TRADEMARK VIOLATION WARNING: “HNI Corporation (NYSE:HNI) Lifted to Hold at Zacks Investment Research” was originally posted by BBNS and is owned by of BBNS. If you are accessing this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright laws. The legal version of this article can be read at https://baseballnewssource.com/markets/hni-corporation-hni-rating-increased-to-hold-at-zacks-investment-research/1635066.html.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Wednesday, August 16th. HNI Corporation’s dividend payout ratio (DPR) is 81.43%.

In related news, Chairman Stanley A. Askren sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $36.44, for a total value of $437,280.00. Following the completion of the transaction, the chairman now directly owns 216,996 shares of the company’s stock, valued at $7,907,334.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.16% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its holdings in shares of HNI Corporation by 7.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 277,050 shares of the business services provider’s stock valued at $12,770,000 after acquiring an additional 19,771 shares during the period. Airain ltd acquired a new stake in shares of HNI Corporation in the first quarter valued at approximately $756,000. Comerica Bank boosted its holdings in shares of HNI Corporation by 3.7% in the first quarter. Comerica Bank now owns 34,256 shares of the business services provider’s stock valued at $1,618,000 after acquiring an additional 1,222 shares during the period. SG Americas Securities LLC boosted its holdings in shares of HNI Corporation by 102.7% in the second quarter. SG Americas Securities LLC now owns 13,877 shares of the business services provider’s stock valued at $553,000 after acquiring an additional 7,031 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of HNI Corporation by 27.2% in the first quarter. Bank of Montreal Can now owns 4,819 shares of the business services provider’s stock valued at $222,000 after acquiring an additional 1,030 shares during the period. 68.99% of the stock is owned by institutional investors and hedge funds.

HNI Corporation 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.

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

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

Analyst Recommendations for HNI Corporation (NYSE:HNI)

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

 


Latest News

Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?
Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22
Tigers Player Might Play All Nine Positions During Same Game
Tigers Player Might Play All Nine Positions During Same Game


Leave a Reply

 
© 2006-2017 BBNS.