HNI Corporation (NYSE:HNI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

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. “

Other analysts have also issued research reports about the stock. TheStreet lowered shares of HNI Corporation from a “b-” rating to a “c+” rating in a research report on Tuesday, June 20th. Raymond James Financial, Inc. upgraded 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 research report on Wednesday, August 23rd. Citigroup Inc. upgraded shares of HNI Corporation to an “outperform” rating and set a $42.00 target price on the stock in a research report on Wednesday, August 23rd. UBS AG upgraded shares of HNI Corporation from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 23rd. Finally, BidaskClub downgraded shares of HNI Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Two investment 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 has an average rating of “Hold” and an average price target of $44.50.

Shares of HNI Corporation (NYSE:HNI) opened at 37.80 on Monday. HNI Corporation has a 52 week low of $34.60 and a 52 week high of $56.94. The firm has a 50-day moving average of $36.39 and a 200 day moving average of $41.80. The stock has a market cap of $1.67 billion, a PE ratio of 27.16 and a beta of 1.41.

HNI Corporation (NYSE:HNI) last announced its 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). HNI Corporation had a net margin of 2.94% and a return on equity of 20.82%. The company had revenue of $514.50 million during the quarter, compared to analyst estimates of $516.10 million. During the same quarter last year, the business earned $0.68 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities analysts forecast that HNI Corporation will post $2.45 EPS for the current fiscal year.

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In other news, Chairman Stanley A. Askren sold 12,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $36.44, for a total value of $437,280.00. Following the transaction, the chairman now directly owns 216,996 shares of the company’s stock, valued at $7,907,334.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.16% of the company’s stock.

Large investors have recently bought and sold shares of the company. KCG Holdings Inc. purchased a new position in shares of HNI Corporation in the first quarter worth about $205,000. Laurion Capital Management LP purchased a new position in shares of HNI Corporation in the first quarter worth about $221,000. Bank of Montreal Can lifted its stake in shares of HNI Corporation by 27.2% in the first quarter. Bank of Montreal Can now owns 4,819 shares of the business services provider’s stock worth $222,000 after buying an additional 1,030 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of HNI Corporation in the first quarter worth about $284,000. Finally, SG Americas Securities LLC lifted its stake in shares of HNI Corporation by 64.9% in the first quarter. SG Americas Securities LLC now owns 6,846 shares of the business services provider’s stock worth $316,000 after buying an additional 2,695 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)

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