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

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

HNI Trading Down 4.9 %

HNI opened at $46.72 on Friday. The stock has a market cap of $2.23 billion, a PE ratio of 16.17, a PEG ratio of 1.14 and a beta of 0.90. The business has a 50 day moving average of $49.83 and a 200-day moving average of $52.01. HNI has a 52 week low of $40.94 and a 52 week high of $58.42. The company has a quick ratio of 0.68, a current ratio of 1.10 and a debt-to-equity ratio of 0.36.

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

Insider Activity

In related news, Director Larry B. Porcellato sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 of the company’s stock, valued at $2,157,266. This trade represents a 5.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Scott Smith sold 556 shares of HNI stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total value of $27,744.40. Following the transaction, the insider now owns 14,394 shares of the company’s stock, valued at $718,260.60. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.36% of the company’s stock.

Institutional Trading of HNI

Several institutional investors have recently bought and sold shares of the company. Contravisory Investment Management Inc. lifted its stake in shares of HNI by 5.1% in the fourth quarter. Contravisory Investment Management Inc. now owns 4,501 shares of the business services provider’s stock worth $227,000 after buying an additional 220 shares in the last quarter. Inspire Investing LLC lifted its position in HNI by 3.1% in the 4th quarter. Inspire Investing LLC now owns 7,942 shares of the business services provider’s stock valued at $400,000 after acquiring an additional 242 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in HNI by 85.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 561 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 258 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of HNI by 1.0% in the 4th quarter. State of Alaska Department of Revenue now owns 27,168 shares of the business services provider’s stock worth $1,368,000 after purchasing an additional 267 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in shares of HNI by 2.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 13,987 shares of the business services provider’s stock worth $753,000 after purchasing an additional 287 shares in the last quarter. 75.26% of the stock is owned by hedge funds and other 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.