HNI Corporation (HNI) Stock Rating Lowered by Rowe

HNI Corporation (NYSE:HNI) was downgraded by equities researchers at Rowe from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday, October 24th, The Fly reports.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of HNI Corporation from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Raymond James Financial, Inc. upgraded shares of 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. UBS AG raised shares of HNI Corporation from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 23rd. Citigroup Inc. raised shares of HNI Corporation to an “outperform” rating and set a $42.00 price target for the company in a research report on Wednesday, August 23rd. Finally, BidaskClub lowered shares of HNI Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $44.50.

Shares of HNI Corporation (NYSE HNI) opened at $33.37 on Tuesday. The stock has a market cap of $1,449.16, a price-to-earnings ratio of 14.38 and a beta of 1.49. HNI Corporation has a twelve month low of $31.16 and a twelve month high of $56.94. The company has a quick ratio of 0.74, a current ratio of 1.08 and a debt-to-equity ratio of 0.59.

HNI Corporation (NYSE:HNI) last issued its earnings results on Monday, October 23rd. The business services provider reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. The company had revenue of $599.50 million for the quarter, compared to analysts’ expectations of $585.07 million. HNI Corporation had a net margin of 3.08% and a return on equity of 21.09%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. equities analysts predict that HNI Corporation will post 1.94 EPS for the current fiscal year.

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In related news, Chairman Stanley A. Askren sold 12,000 shares of the firm’s stock in a transaction 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 document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 36,000 shares of company stock valued at $1,399,680. 5.16% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of HNI Corporation by 22,922.7% during the first quarter. BlackRock Inc. now owns 4,523,960 shares of the business services provider’s stock valued at $208,510,000 after acquiring an additional 4,504,310 shares during the period. Vanguard Group Inc. lifted its holdings in shares of HNI Corporation by 6.9% during the first quarter. Vanguard Group Inc. now owns 3,870,218 shares of the business services provider’s stock valued at $178,379,000 after acquiring an additional 251,212 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of HNI Corporation by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,059,270 shares of the business services provider’s stock valued at $48,820,000 after acquiring an additional 17,867 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in shares of HNI Corporation by 2.2% during the third 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 during the period. Finally, Dalton Greiner Hartman Maher & Co. lifted its holdings in shares of HNI Corporation by 325.9% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 421,823 shares of the business services provider’s stock valued at $16,818,000 after acquiring an additional 322,791 shares during the period. 70.29% of the stock is owned by institutional investors.

About HNI Corporation

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.

The Fly

Analyst Recommendations for HNI Corporation (NYSE:HNI)

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