HNI (NYSE:HNI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “HNI Corporation provide products and solutions for the home and workplace environments. HNI is a leading global provider and designer of office furniture and the leading manufacturer and marketer of hearth products. HNI Corporation sell the broadest and deepest selection of quality office furniture solutions available to meet the needs of every customer through an extensive portfolio of well-known and trusted brands. HNI Corporation hearth products are the strongest, most respected brands in the industry and include a full array of gas, electric, wood and biomass burning fireplaces, inserts, stoves, facings and accessories. “

Several other equities analysts also recently weighed in on the stock. Sidoti downgraded shares of HNI from a “buy” rating to a “neutral” rating and lowered their price target for the company from $47.00 to $43.00 in a report on Tuesday, February 26th. TheStreet downgraded shares of HNI from a “b” rating to a “c+” rating in a report on Monday, April 22nd. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of HNI in a report on Wednesday, February 27th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $43.00.

Shares of NYSE:HNI opened at $34.42 on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. HNI has a 1-year low of $32.99 and a 1-year high of $45.40. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 14.28 and a beta of 1.28.

HNI (NYSE:HNI) last issued its quarterly earnings results on Monday, April 22nd. The business services provider reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. HNI had a net margin of 4.12% and a return on equity of 18.89%. The business had revenue of $479.50 million for the quarter, compared to the consensus estimate of $485.33 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities research analysts predict that HNI will post 2.67 EPS for the current fiscal year.

In other news, Director Ronald V. Waters sold 5,000 shares of the business’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $42.09, for a total value of $210,450.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.20% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in HNI. Macquarie Group Ltd. lifted its holdings in shares of HNI by 250.0% in the fourth quarter. Macquarie Group Ltd. now owns 700 shares of the business services provider’s stock worth $25,000 after buying an additional 500 shares in the last quarter. Claybrook Capital LLC purchased a new position in shares of HNI in the fourth quarter worth $69,000. Investors Research Corp purchased a new position in shares of HNI in the first quarter worth $76,000. NumerixS Investment Technologies Inc lifted its holdings in shares of HNI by 26.8% in the first quarter. NumerixS Investment Technologies Inc now owns 2,082 shares of the business services provider’s stock worth $76,000 after buying an additional 440 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new position in shares of HNI in the fourth quarter worth $80,000. 70.88% of the stock is currently owned by hedge funds and other institutional investors.

About HNI

HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, Lamex, and HNI India brands.

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