HNI (NYSE:HNI) Price Target Raised to $54.00 at Benchmark

HNI (NYSE:HNI) had its target price upped by Benchmark from $50.00 to $54.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Benchmark’s price objective indicates a potential upside of 28.97% from the stock’s previous close.

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

HNI Stock Performance

HNI opened at $41.87 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 1.22 and a beta of 0.86. The company’s 50 day moving average is $43.25 and its 200 day moving average is $41.03. 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 data on Monday, April 29th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.19. The company had revenue of $588.00 million for the quarter, compared to the consensus estimate of $574.56 million. HNI had a net margin of 2.57% and a return on equity of 17.75%. The firm’s revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. On average, equities research analysts predict that HNI will post 2.93 EPS for the current year.

Insiders Place Their Bets

In other HNI news, Director Larry B. Porcellato sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $44.00, for a total transaction of $88,000.00. Following the sale, the director now owns 40,718 shares in the company, valued at approximately $1,791,592. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other HNI news, Director Larry B. Porcellato sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $44.00, for a total transaction of $88,000.00. Following the sale, the director now owns 40,718 shares in the company, valued at approximately $1,791,592. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary A. Bell sold 2,898 shares of HNI stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $43.13, for a total transaction of $124,990.74. Following the sale, the director now owns 76,183 shares in the company, valued at approximately $3,285,772.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,374 shares of company stock worth $749,534. Company insiders own 3.36% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its holdings in shares of HNI by 86.6% in the first quarter. BNP Paribas Financial Markets now owns 35,859 shares of the business services provider’s stock valued at $1,618,000 after purchasing an additional 16,646 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in HNI during the first quarter worth $245,000. Oxford Financial Group LTD. LLC boosted its stake in HNI by 58.0% during the fourth quarter. Oxford Financial Group LTD. LLC now owns 51,867 shares of the business services provider’s stock worth $2,170,000 after buying an additional 19,032 shares during the period. Intrinsic Edge Capital Management LLC purchased a new position in HNI during the fourth quarter worth $3,906,000. Finally, KBC Group NV boosted its stake in HNI by 18.7% during the fourth quarter. KBC Group NV now owns 8,873 shares of the business services provider’s stock worth $371,000 after buying an additional 1,397 shares during the period. 75.26% of the stock is 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.