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

HNI (NYSE:HNI) had its price target hoisted by stock analysts at Benchmark from $50.00 to $54.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Benchmark’s target price indicates a potential upside of 28.97% from the stock’s previous close.

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

HNI Trading Down 0.2 %

Shares of NYSE HNI opened at $41.87 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.73 and a current ratio of 1.29. HNI has a 52-week low of $24.81 and a 52-week high of $45.47. The firm has a 50 day moving average price of $43.25 and a two-hundred day moving average price of $41.03. The stock has a market cap of $1.98 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 1.22 and a beta of 0.86.

HNI (NYSE:HNI) last announced its quarterly earnings results on Monday, April 29th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.19. HNI had a net margin of 2.57% and a return on equity of 17.75%. The firm had revenue of $588.00 million during the quarter, compared to analysts’ expectations of $574.56 million. During the same period in the prior year, the company posted $0.13 EPS. The company’s revenue was up 22.7% on a year-over-year basis. As a group, equities analysts forecast that HNI will post 2.93 EPS for the current year.

Insider Buying and Selling

In related news, Director Miguel M. Calado sold 2,500 shares of the stock in a transaction 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 transaction, the director now directly owns 36,988 shares of the company’s stock, valued at $1,590,114.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other HNI news, EVP Vincent P. Berger sold 9,976 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $43.01, for a total value of $429,067.76. Following the transaction, the executive vice president now directly owns 67,025 shares of the company’s stock, valued at $2,882,745.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Miguel M. Calado sold 2,500 shares of the firm’s stock in a transaction 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 directly owns 36,988 shares in the company, valued at $1,590,114.12. The disclosure for this sale can be found here. Insiders have sold a total of 17,374 shares of company stock valued at $749,534 over the last ninety days. 3.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of HNI in the fourth quarter valued at $1,347,000. Handelsbanken Fonder AB lifted its stake in shares of HNI by 24.4% in the third quarter. Handelsbanken Fonder AB now owns 9,726 shares of the business services provider’s stock valued at $337,000 after buying an additional 1,910 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of HNI by 0.7% in the third quarter. Vanguard Group Inc. now owns 5,276,579 shares of the business services provider’s stock valued at $182,728,000 after buying an additional 36,988 shares in the last quarter. Illinois Municipal Retirement Fund bought a new position in shares of HNI in the third quarter valued at $947,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of HNI by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 800,024 shares of the business services provider’s stock valued at $27,705,000 after buying an additional 30,475 shares in the last quarter. 75.26% of the stock is owned by institutional investors.

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.