On Thursday, the financial analysts at StockNews.com began providing coverage of shares of HNI and distributed a research report to the clients and investors who use their services (NYSE: HNI).
The brokerage firm recommended “buying” the company’s stock since the company is a provider of business services.
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The company that provides business services reported earnings of $0.63 per share for the quarter, which is $0.15 more than the estimated $0.48 per share analysts reached as a consensus.
The return on equity for HNI was 15.68%, and the net margin for the company was 5.25%.
The revenue for the quarter came in significantly higher than the $559.22 million analysts had anticipated, coming in at $568.90 million instead. Compared to the previous year’s results for the same quarter, the company’s earnings per share came in at $0.43.
The revenue the company brought in during the quarter dropped by 5.6% when measured against what it brought in the same period the year before.
HNI stock was officially traded for the first time on Thursday, and the opening price was $26.17.
The company’s 50-day and 200-day simple moving averages are currently sitting at $30.41 and $29.44, respectively.
The debt-to-equity ratio stands at 0.32, the quick ratio at 0.73, and the current ratio at 1.19.
The company’s market value is currently $1.08 billion, its price-to-earnings ratio is 8.87, and its beta value is 0.95.
The current price of HNI is $39.54, which is higher than the one-year high of $24.60 but lower than the one-year low of $39.54.
Separately, on Thursday, March 9, Sidoti changed their rating of HNI from “neutral” to “buy” and set their target price for the company at $34.00.
This information was included in a report that was distributed.
According to earlier HNI news, on February 2, HNI Executive Vice President Vincent P.
Berger sold 2,150 shares of HNI stock.
This information was disclosed on the HNI website.
The price of each share, which was ultimately sold for $69,316.00, was determined to be $32.24 on average. Following the conclusion of the sale, the executive vice president was awarded ownership of 63,298 shares in the company.
Based on the estimated value of each share, the executive vice president now possesses approximately $2,040,727.52 in assets. You will be taken to a document that was submitted to the Securities and Exchange Commission if you select this link and click on it.
This document contains additional information about the transaction.
In other news about this topic, on February 2, 4,383 shares of the company’s stock were sold by Marshall H.
Bridges, who serves as the company’s Chief Financial Officer.
The sale of the shares brought in a total of $141,790.05 in revenue, with the price paid for each share averaging $32.35.
After the completion of the transaction, the chief financial officer acquired 72,287 shares of company stock.
The total value of these shares is approximately 2,338,484.45 dollars. Following this link will take you to a document submitted to the Securities and Exchange Commission (SEC).
The document contains an in-depth explanation of the transaction that was reported to the SEC.
On top of that, Executive Vice President Vincent P.
Berger sold 2,150 shares of company stock on Thursday, February 2.
The sale of the shares resulted in a total expense of $69,316.00, with the average price at which each share was sold being $32.24.
The current owner of 63,298 shares in the company is the executive vice president, and those shares currently have a value of approximately $2,040,727.52.
This is the location where the disclosure regarding the sale can be found.
Insiders of the company currently hold a total of 2.80% of the shares available for purchase.
Due to recent occurrences, hedge funds and institutional investors have modified their company stock holdings and taken new positions.
Armstrong Consulting Group INC opened up a new position in HNI during the fourth quarter, investing around $25,000 in the venture.
Bessemer Group INC increased its holdings in HNI by 252.7% during the third quarter of the fiscal year.
After purchasing an additional 690 shares during the most recent quarter, Bessemer Group INC now has 963 shares of the business services provider.
The current value of these shares is $26,000.
During the second quarter, Point72 Hong Kong Limited saw an increase of 89.9% in the value of its holdings in HNI.
Point72 Hong Kong Ltd now has 2,560 shares of the business services provider’s stock, which is currently valued at $89,000 after purchasing an additional 1,212 shares during the most recent quarter.
This brings the total number of shares owned by the company to 2,560.
The Royal Bank of Canada’s holdings in HNI increased by 459.6% during the first three months of 2018 due to the bank’s purchases.
The Royal Bank of Canada now has 2,675 shares of the business services provider’s stock, currently valued at $99,000, after making a new purchase of 2,197 shares during the most recent quarter.
This brings the total number of shares that the bank owns in the company to 2,675.
The most recent and significant point is that Advisor Group Holdings INC increased its holdings in HNI by 37.9% during the fourth quarter.
This is the point that caps off the discussion.
Adviser Group Holdings INC now has 3,047 shares of the business services provider’s stock after purchasing an additional 837 shares during the most recent quarter.
The stock is currently valued at $88,000, and Adviser Group Holdings INC’s holdings are worth $88,000. 76.28% of the company’s shares are held in institutional ownership.