Zacks Investment Research cut shares of HNI Corporation (NYSE:HNI) from a hold rating to a sell rating in a report published 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. “

A number of other equities research analysts have also recently weighed in on HNI. Seaport Global Securities initiated coverage on shares of HNI Corporation in a report on Friday, November 4th. They issued a neutral rating on the stock. Sidoti initiated coverage on shares of HNI Corporation in a report on Friday, January 6th. They issued a neutral rating and a $59.00 price objective on the stock. Finally, Off Wall Street initiated coverage on shares of HNI Corporation in a report on Monday, February 6th. They issued a sell rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. HNI Corporation currently has an average rating of Hold and an average target price of $48.33.

Shares of HNI Corporation (NYSE:HNI) opened at 46.05 on Monday. HNI Corporation has a 52 week low of $32.36 and a 52 week high of $56.96. The stock’s 50 day moving average is $50.48 and its 200 day moving average is $49.20. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 24.49 and a beta of 1.44.

HNI Corporation (NYSE:HNI) last announced its quarterly earnings data on Wednesday, February 8th. The company reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.03. The business earned $581.30 million during the quarter, compared to analysts’ expectations of $581.50 million. HNI Corporation had a return on equity of 23.75% and a net margin of 3.88%. HNI Corporation’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. On average, equities analysts forecast that HNI Corporation will post $2.94 EPS for the current year.

“HNI Corporation (HNI) Rating Lowered to Sell at Zacks Investment Research” was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of international copyright and trademark laws. The correct version of this piece can be read at http://www.watchlistnews.com/hni-corporation-hni-rating-lowered-to-sell-at-zacks-investment-research/1121736.html.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 6th. Shareholders of record on Monday, February 27th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Thursday, February 23rd. HNI Corporation’s dividend payout ratio (DPR) is presently 58.51%.

Large investors have recently made changes to their positions in the company. Retirement Systems of Alabama boosted its stake in shares of HNI Corporation by 0.5% in the second quarter. Retirement Systems of Alabama now owns 57,241 shares of the company’s stock worth $2,661,000 after buying an additional 300 shares during the period. Nordea Investment Management AB boosted its stake in shares of HNI Corporation by 225.2% in the second quarter. Nordea Investment Management AB now owns 13,777 shares of the company’s stock worth $640,000 after buying an additional 9,541 shares during the period. BRC Investment Management LLC acquired a new stake in shares of HNI Corporation during the second quarter worth $788,000. UBS Asset Management Americas Inc. boosted its stake in shares of HNI Corporation by 28.2% in the second quarter. UBS Asset Management Americas Inc. now owns 24,489 shares of the company’s stock worth $1,139,000 after buying an additional 5,390 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of HNI Corporation by 5.5% in the second quarter. Vanguard Group Inc. now owns 3,410,797 shares of the company’s stock worth $158,568,000 after buying an additional 177,502 shares during the period. Institutional investors and hedge funds own 67.13% of the company’s stock.

About HNI Corporation

HNI Corporation is a provider of office furniture and hearth products. The Company manufactures and markets gas and wood burning fireplaces. It operates through two segments: office furniture and hearth products. Its office furniture segment manufactures and markets a range 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.

5 Day Chart for NYSE:HNI

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

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

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