Sidoti Begins Coverage on HNI Corporation (HNI)

Sidoti assumed coverage on shares of HNI Corporation (NYSE:HNI) in a research report report published on Friday morning. The brokerage issued a neutral rating and a $59.00 price target on the stock.

Other equities analysts have also issued reports about the company. Zacks Investment Research raised HNI Corporation from a strong sell rating to a hold rating in a research report on Tuesday, November 22nd. Seaport Global Securities assumed coverage on HNI Corporation in a research report on Friday, November 4th. They set a neutral rating on the stock. Finally, Raymond James Financial, Inc. downgraded HNI Corporation from an outperform rating to a market perform rating in a report on Tuesday, September 20th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $55.00.

HNI Corporation (NYSE:HNI) traded down 0.06% during midday trading on Friday, hitting $52.37. The stock had a trading volume of 78,838 shares. The company has a 50-day moving average price of $54.37 and a 200-day moving average price of $49.10. The stock has a market cap of $2.33 billion, a P/E ratio of 22.29 and a beta of 1.44. HNI Corporation has a 52 week low of $29.84 and a 52 week high of $56.96.

HNI Corporation (NYSE:HNI) last issued its earnings results on Wednesday, October 19th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. HNI Corporation had a return on equity of 24.76% and a net margin of 4.82%. The company had revenue of $584.60 million for the quarter, compared to analyst estimates of $583.70 million. During the same period in the prior year, the firm earned $0.93 earnings per share. HNI Corporation’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities analysts expect that HNI Corporation will post $2.65 EPS for the current year.

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Large investors have recently made changes to their positions in the company. Hsbc Holdings PLC increased its stake in shares of HNI Corporation by 0.4% in the third quarter. Hsbc Holdings PLC now owns 6,364 shares of the company’s stock valued at $254,000 after buying an additional 26 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in shares of HNI Corporation by 0.6% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,661 shares of the company’s stock valued at $356,000 after buying an additional 43 shares during the period. State Treasurer State of Michigan increased its stake in shares of HNI Corporation by 0.6% in the third quarter. State Treasurer State of Michigan now owns 17,940 shares of the company’s stock valued at $714,000 after buying an additional 100 shares during the period. LS Investment Advisors LLC increased its stake in shares of HNI Corporation by 5.6% in the third quarter. LS Investment Advisors LLC now owns 2,888 shares of the company’s stock valued at $115,000 after buying an additional 152 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of HNI Corporation by 0.8% in the second quarter. Public Employees Retirement System of Ohio now owns 27,449 shares of the company’s stock valued at $1,276,000 after buying an additional 227 shares during the period. Institutional investors and hedge funds own 67.78% of the company’s stock.

HNI Corporation Company Profile

HNI Corporation is a provider of office furniture and hearth products. The Company manufactures and markets gas and wood burning fireplaces. It operates through two segments: office furniture and hearth products. Its office furniture segment manufactures and markets a range 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.

5 Day Chart for NYSE:HNI

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