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

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

HNI Trading Down 4.9 %

NYSE HNI opened at $46.72 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The stock’s 50-day simple moving average is $49.83 and its two-hundred day simple moving average is $52.01. HNI has a twelve month low of $40.94 and a twelve month high of $58.42. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.14 and a beta of 0.90.

HNI (NYSE:HNI) last released its earnings results on Thursday, February 20th. The business services provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. The company had revenue of $642.50 million during the quarter, compared to the consensus estimate of $657.03 million. HNI had a return on equity of 18.27% and a net margin of 5.52%. Research analysts forecast that HNI will post 3.6 EPS for the current fiscal year.

Insider Activity at HNI

In related news, insider Brian Scott Smith sold 556 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total transaction of $27,744.40. Following the completion of the sale, the insider now directly owns 14,394 shares in the company, valued at $718,260.60. This represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Larry B. Porcellato sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $56.95, for a total transaction of $113,900.00. Following the completion of the transaction, the director now owns 37,880 shares in the company, valued at $2,157,266. The trade was a 5.02 % decrease in their position. The disclosure for this sale can be found here. 3.36% of the stock is currently owned by company insiders.

Institutional Trading of HNI

Several large investors have recently modified their holdings of HNI. Eastern Bank purchased a new stake in HNI in the 3rd quarter worth approximately $27,000. Smartleaf Asset Management LLC raised its holdings in shares of HNI by 85.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 258 shares in the last quarter. Covestor Ltd lifted its stake in HNI by 219.9% in the third quarter. Covestor Ltd now owns 739 shares of the business services provider’s stock worth $40,000 after acquiring an additional 508 shares during the period. Sterling Capital Management LLC boosted its holdings in HNI by 649.1% in the fourth quarter. Sterling Capital Management LLC now owns 809 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 701 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in HNI during the 4th quarter valued at $55,000. 75.26% of the stock is owned by institutional investors.

About HNI

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.