Zacks Investment Research upgraded shares of HNI (NYSE:HNI) from a sell rating to a hold rating in a report released on Tuesday, 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 research firms also recently commented on HNI. TheStreet downgraded shares of HNI from a b rating to a c+ rating in a research report on Monday, April 22nd. Sidoti set a $45.00 target price on shares of HNI and gave the stock a hold rating in a research report on Friday, May 31st. Finally, ValuEngine downgraded shares of HNI from a hold rating to a sell rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. HNI currently has a consensus rating of Hold and an average target price of $45.00.

Shares of HNI opened at $30.90 on Tuesday. The company’s 50 day moving average price is $33.25 and its 200 day moving average price is $35.96. HNI has a 52 week low of $30.07 and a 52 week high of $44.79. The company has a market capitalization of $1.31 billion, a PE ratio of 13.51 and a beta of 1.22. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.75 and a current ratio of 1.21.

HNI (NYSE:HNI) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.03). HNI had a net margin of 4.02% and a return on equity of 18.33%. The company had revenue of $526.00 million for the quarter, compared to analysts’ expectations of $551.13 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities analysts forecast that HNI will post 2.6 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 3.95%. The ex-dividend date is Thursday, August 15th. HNI’s dividend payout ratio is 50.62%.

A number of hedge funds have recently bought and sold shares of HNI. JPMorgan Chase & Co. boosted its holdings in shares of HNI by 39.3% during the 1st quarter. JPMorgan Chase & Co. now owns 162,272 shares of the business services provider’s stock worth $5,889,000 after buying an additional 45,758 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of HNI by 19.3% during the 1st quarter. Victory Capital Management Inc. now owns 29,541 shares of the business services provider’s stock worth $1,072,000 after buying an additional 4,787 shares during the period. Great West Life Assurance Co. Can boosted its holdings in shares of HNI by 5.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 28,445 shares of the business services provider’s stock worth $1,031,000 after buying an additional 1,456 shares during the period. Bank of America Corp DE boosted its holdings in shares of HNI by 32.8% during the 4th quarter. Bank of America Corp DE now owns 116,396 shares of the business services provider’s stock worth $4,125,000 after buying an additional 28,751 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of HNI by 37.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 36,370 shares of the business services provider’s stock worth $1,287,000 after buying an additional 10,000 shares during the period. 69.09% of the stock is owned by institutional investors.

HNI Company Profile

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.

Further Reading: What is the significance of the death cross?

Get a free copy of the Zacks research report on HNI (HNI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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