HNI (NYSE:HNI) PT Raised to $54.00 at Benchmark

HNI (NYSE:HNI) had its target price upped by investment analysts at Benchmark from $50.00 to $54.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Benchmark’s price target suggests a potential upside of 28.76% from the stock’s current price.

Separately, StockNews.com cut shares of HNI from a “strong-buy” rating to a “buy” rating in a report on Friday, March 8th.

HNI Trading Down 2.4 %

Shares of HNI stock traded down $1.05 during trading hours on Tuesday, reaching $41.94. 55,151 shares of the stock were exchanged, compared to its average volume of 253,296. The company has a current ratio of 1.16, a quick ratio of 0.73 and a debt-to-equity ratio of 0.57. HNI has a 12-month low of $24.81 and a 12-month high of $45.47. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 41.23, a price-to-earnings-growth ratio of 1.21 and a beta of 0.86. The company’s 50-day moving average price is $43.30 and its 200-day moving average price is $40.98.

HNI (NYSE:HNI) last released its earnings results on Monday, April 29th. The business services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.19. HNI had a return on equity of 16.97% and a net margin of 2.03%. The firm had revenue of $588.00 million for the quarter, compared to analysts’ expectations of $574.56 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was up 22.7% on a year-over-year basis. As a group, equities analysts anticipate that HNI will post 2.93 earnings per share for the current year.

Insider Activity

In related news, Director Miguel M. Calado sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $42.99, for a total transaction of $107,475.00. Following the completion of the transaction, the director now owns 36,988 shares in the company, valued at approximately $1,590,114.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Mary A. Bell sold 2,898 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $43.13, for a total transaction of $124,990.74. Following the transaction, the director now directly owns 76,183 shares in the company, valued at approximately $3,285,772.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Miguel M. Calado sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $42.99, for a total transaction of $107,475.00. Following the transaction, the director now owns 36,988 shares in the company, valued at approximately $1,590,114.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,374 shares of company stock worth $749,534. Company insiders own 3.36% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HNI. Norges Bank acquired a new stake in shares of HNI during the fourth quarter worth $13,368,000. Franklin Resources Inc. grew its stake in shares of HNI by 20.0% during the 4th quarter. Franklin Resources Inc. now owns 1,237,003 shares of the business services provider’s stock worth $51,744,000 after purchasing an additional 206,419 shares during the period. Intrinsic Edge Capital Management LLC purchased a new position in shares of HNI during the 4th quarter valued at approximately $3,906,000. SG Capital Management LLC purchased a new position in shares of HNI during the 3rd quarter valued at approximately $3,131,000. Finally, Sapient Capital LLC purchased a new stake in HNI during the fourth quarter worth $2,515,000. 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.