HNI (NYSE:HNI) Stock Rating Upgraded by StockNews.com

HNI (NYSE:HNI) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Separately, Benchmark lifted their target price on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, July 26th.

HNI Trading Up 2.1 %

Shares of HNI opened at $53.27 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $52.11 and a two-hundred day simple moving average of $47.45. The stock has a market capitalization of $2.52 billion, a P/E ratio of 39.46, a PEG ratio of 1.38 and a beta of 0.85. HNI has a twelve month low of $32.70 and a twelve month high of $56.13.

HNI (NYSE:HNI) last posted its earnings results on Thursday, July 25th. The business services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.18. The company had revenue of $623.70 million during the quarter, compared to analysts’ expectations of $637.74 million. HNI had a net margin of 4.39% and a return on equity of 19.15%. HNI’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company posted $0.55 earnings per share. On average, research analysts anticipate that HNI will post 3.17 EPS for the current year.

Insider Buying and Selling at HNI

In related news, Director Larry B. Porcellato sold 2,000 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $48.01, for a total value of $96,020.00. Following the completion of the transaction, the director now owns 39,725 shares of the company’s stock, valued at approximately $1,907,197.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Miguel M. Calado sold 5,299 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total value of $280,635.04. Following the completion of the sale, the director now owns 31,159 shares of the company’s stock, valued at $1,650,180.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Larry B. Porcellato sold 2,000 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $48.01, for a total transaction of $96,020.00. Following the completion of the transaction, the director now owns 39,725 shares of the company’s stock, valued at $1,907,197.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,029 shares of company stock valued at $6,766,593. Corporate insiders own 3.36% of the company’s stock.

Institutional Investors Weigh In On HNI

Several institutional investors have recently bought and sold shares of HNI. KBC Group NV raised its stake in shares of HNI by 18.7% during the 4th quarter. KBC Group NV now owns 8,873 shares of the business services provider’s stock worth $371,000 after purchasing an additional 1,397 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new stake in HNI in the 4th quarter valued at about $3,906,000. Oxford Financial Group LTD. LLC lifted its holdings in HNI by 58.0% during the 4th quarter. Oxford Financial Group LTD. LLC now owns 51,867 shares of the business services provider’s stock worth $2,170,000 after buying an additional 19,032 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of HNI during the first quarter valued at $245,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of HNI by 86.6% in the 1st quarter. BNP Paribas Financial Markets now owns 35,859 shares of the business services provider’s stock valued at $1,618,000 after purchasing an additional 16,646 shares during the period. Institutional investors and hedge funds own 75.26% of the company’s stock.

HNI Company Profile

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. The company operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers a range of commercial and home office furniture, including panel-based and freestanding furniture systems, seating, storage, benching, tables, architectural products, and ancillary and hospitality products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF, HBF Textiles, HNI India, Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, and D'style brands.