Zacks Investment Research upgraded shares of HNI Corporation (NYSE:HNI) from a sell rating to a hold rating in a report published on Monday morning.

According to Zacks, “HNI Corp has two reportable core operating segments: office furniture and hearth products. They are the second largest office furniture manufacturer in the United States and the nation’s leading manufacturer and marketer of gas- and wood-burning fireplaces. “

Several other brokerages have also recently weighed in on HNI. Citigroup Inc. raised shares of HNI Corporation to an outperform rating and set a $42.00 target price on the stock in a report on Wednesday, August 23rd. UBS AG raised shares of HNI Corporation from a market perform rating to an outperform rating in a report on Wednesday, August 23rd. BidaskClub cut shares of HNI Corporation from a sell rating to a strong sell rating in a report on Friday, August 18th. Raymond James Financial, Inc. raised shares of HNI Corporation from a market perform rating to an outperform rating and set a $42.00 target price on the stock in a report on Wednesday, August 23rd. Finally, TheStreet cut shares of HNI Corporation from a b- rating to a c+ rating in a report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $44.50.

HNI Corporation (HNI) opened at 37.52 on Monday. The stock has a 50 day moving average of $36.35 and a 200-day moving average of $41.84. The stock has a market cap of $1.65 billion, a P/E ratio of 26.95 and a beta of 1.41. HNI Corporation has a 12 month low of $34.60 and a 12 month high of $56.94.

HNI Corporation (NYSE:HNI) last issued its quarterly earnings results on Monday, July 24th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The business had revenue of $514.50 million for the quarter, compared to analyst estimates of $516.10 million. HNI Corporation had a return on equity of 20.82% and a net margin of 2.94%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS. On average, equities analysts forecast that HNI Corporation will post $2.45 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This piece of content was published by Daily Political and is the sole property of of Daily Political. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The correct version of this piece of content can be read at https://www.dailypolitical.com/2017/09/12/hni-corporation-hni-upgraded-to-hold-at-zacks-investment-research.html.

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $1.14 annualized dividend and a yield of 3.04%. HNI Corporation’s dividend payout ratio (DPR) is 81.43%.

In related news, Chairman Stanley A. Askren sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $36.44, for a total value of $437,280.00. Following the sale, the chairman now owns 216,996 shares of the company’s stock, valued at $7,907,334.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.16% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of HNI. Louisiana State Employees Retirement System raised its holdings in HNI Corporation by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the business services provider’s stock worth $512,000 after purchasing an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in HNI Corporation by 1.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 15,514 shares of the business services provider’s stock worth $715,000 after purchasing an additional 200 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in HNI Corporation by 2.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 20,640 shares of the business services provider’s stock worth $951,000 after purchasing an additional 520 shares in the last quarter. Thrivent Financial For Lutherans raised its holdings in HNI Corporation by 9.5% during the first quarter. Thrivent Financial For Lutherans now owns 8,380 shares of the business services provider’s stock worth $386,000 after purchasing an additional 730 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in HNI Corporation by 3.1% during the first quarter. Great West Life Assurance Co. Can now owns 26,163 shares of the business services provider’s stock worth $1,205,000 after purchasing an additional 791 shares in the last quarter. 69.64% of the stock is currently owned by hedge funds and other institutional investors.

HNI Corporation Company Profile

HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line 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.

Analyst Recommendations for HNI Corporation (NYSE:HNI)

Receive News & Ratings for HNI Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HNI Corporation and related companies with MarketBeat.com's FREE daily email newsletter.