In yesterday’s Wall Street session, HNI Corporation (NYSE:HNI) shares traded at $26.82, down -10.42% from the previous session.
As of this writing, 2 analysts cover HNI Corporation (NYSE:HNI). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $36.00 and a low of $30.00, we find $36.00. Given the previous closing price of $29.94, this indicates a potential upside of 20.24 percent. HNI stock price is now -12.00% away from the 50-day moving average and -15.27% away from the 200-day moving average. The market capitalization of the company currently stands at $1.09B.
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There are 1 analysts who have given it a hold rating, whereas 1 have given it a buy rating. Brokers who have rated the stock have averaged $34.00 as their price target over the next twelve months.
With the price target maintained at $38, Sidoti recently Downgraded its rating from Buy to Neutral for HNI Corporation (NYSE: HNI)., while ‘The Benchmark Company’ rates the stock as ‘Buy’.
In other news, Bridges Marshall H, SVP & Chief Financial Officer sold 4,383 shares of the company’s stock on Feb 02. The stock was sold for $141,790 at an average price of $32.35. Upon completion of the transaction, the SVP & Chief Financial Officer now directly owns 72,287 shares in the company, valued at $1.94 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 02, President, HHT; EVP, HNI Corp Berger Vincent P sold 2,150 shares of the business’s stock. A total of $69,316 was realized by selling the stock at an average price of $32.24. This leaves the insider owning 63,298 shares of the company worth $1.7 million. Insiders disposed of 21,505 shares of company stock worth roughly $0.58 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HNI stock. A new stake in HNI Corporation shares was purchased by MARSHALL WACE, LLP during the first quarter worth $1,477,000. LINDEN THOMAS ADVISORY SERVICES, LLC invested $937,000 in shares of HNI during the first quarter. In the first quarter, AMALGAMATED FINANCIAL CORP. acquired a new stake in HNI Corporation valued at approximately $590,000. MARYLAND STATE RETIREMENT & PENSION SYSTEM acquired a new stake in HNI for approximately $512,000. SAVANT CAPITAL, LLC purchased a new stake in HNI valued at around $436,000 in the second quarter. In total, there are 250 active investors with 78.80% ownership of the company’s stock.
Wednesday morning saw HNI Corporation (NYSE: HNI) opened at $25.29. During the past 12 months, HNI Corporation has had a low of $26.51 and a high of $39.54. As of last week, the company has a debt-to-equity ratio of 0.33, a current ratio of 1.20, and a quick ratio of 0.70. The fifty day moving average price for HNI is $30.46 and a two-hundred day moving average price translates $31.60 for the stock.
The latest earnings results from HNI Corporation (NYSE: HNI) was released for Sep, 2022. According to the Business Equipment & Supplies Company, earnings per share came in at $0.71, beating analysts’ expectations of $0.64 by 0.07. This compares to $0.19 EPS in the same period last year. The net profit margin was 5.20% and return on equity was 20.90% for HNI. The company reported revenue of $568.9 million for the quarter, compared to $602.91 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -5.64 percent. For the current quarter, analysts expect HNI to generate $560.72M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/08/2023. Investors who held shares on 02/27/2023 were paid a $0.32 dividend. On an annualized basis, this represents a $1.28 dividend and a 4.77% percent yield. There was an ex-dividend date of 02/24/2023 for this dividend. In terms of dividend payout ratio, HNI is presently at 42.60%.
HNI Corporation(HNI) Company Profile
HNI Corporation, together with its subsidiaries, manufactures and sells 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, tables, and architectural products under the HON, Allsteel, Beyond, Gunlocke, Maxon, HBF, OFM, Respawn, and HNI India brands. This segment sells its products through independent office products dealers, wholesalers, office product distributors, e-commerce focused resellers, and wholesalers, as well as directly to end-user customers and governments. The Residential Building Products segment provides various gas, wood, electric, and pellet-fueled fireplaces; inserts; stoves; facings; and accessories. This segment sells its products primarily for home use under the Heatilator, Heat & Glo, Majestic, Monessen, Quadra-Fire, Harman, Vermont Castings, PelPro, SimpliFire, The Outdoor GreatRoom Company, and Stellar brand names through independent dealers and distributors, and corporation-owned distribution and retail outlets. The company was incorporated in 1944 and is headquartered in Muscatine, Iowa.
