Benchmark Increases HNI (NYSE:HNI) Price Target to $54.00

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

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

HNI Price Performance

Shares of HNI stock traded down $1.05 during trading hours on Tuesday, hitting $41.94. 55,151 shares of the company’s 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. The business’s 50 day simple moving average is $43.30 and its 200-day simple moving average is $40.98. The company has a market capitalization of $1.98 billion, a PE ratio of 41.23, a PEG ratio of 1.21 and a beta of 0.86. HNI has a 12-month low of $24.81 and a 12-month high of $45.47.

HNI (NYSE:HNI) last posted its quarterly 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. The firm had revenue of $588.00 million for the quarter, compared to analysts’ expectations of $574.56 million. HNI had a net margin of 2.03% and a return on equity of 16.97%. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.13 earnings per share. On average, equities research analysts anticipate that HNI will post 2.93 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $44.00, for a total value of $88,000.00. Following the transaction, the director now directly owns 40,718 shares of the company’s stock, valued at approximately $1,791,592. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other HNI news, Director Miguel M. Calado sold 2,500 shares of HNI stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $42.99, for a total value of $107,475.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $44.00, for a total transaction of $88,000.00. Following the transaction, the director now directly owns 40,718 shares in the company, valued at approximately $1,791,592. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,374 shares of company stock valued at $749,534. Corporate insiders own 3.36% of the company’s stock.

Hedge Funds Weigh In On HNI

Large investors have recently modified their holdings of the company. USA Financial Formulas bought a new position in HNI during the 4th quarter valued at $25,000. FinTrust Capital Advisors LLC bought a new position in shares of HNI during the fourth quarter worth about $42,000. Allspring Global Investments Holdings LLC acquired a new position in HNI in the third quarter worth about $56,000. Northwest Financial Advisors bought a new stake in HNI in the fourth quarter valued at about $134,000. Finally, Hsbc Holdings PLC bought a new position in HNI during the 3rd quarter worth approximately $207,000. 75.26% of the stock is currently owned by hedge funds and other 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.