uploads///hni pm

Sidoti Rated HNI Corporation as ‘Neutral’


Nov. 20 2020, Updated 10:41 a.m. ET

Price movement

HNI Corporation (HNI) has a market cap of $2.3 billion and fell 2.1% to close at $51.99 per share on January 6, 2017. The stock’s weekly, monthly, and YTD (year-to-date) price movements were -7.4%, -3.2%, and -7.0%, respectively, on the same day.

HNI is now trading 5.7% below its 20-day moving average, 3.2% above its 50-day moving average, and 11.2% above its 200-day moving average.

Article continues below advertisement

Related ETF and peers

The Vanguard Small-Cap ETF (VB) invests 0.08% of its holdings in HNI. The YTD price movement of VB was 1.3% on January 6.

The market caps of HNI’s competitors are as follows:

  • Steelcase (SCS): $2.0 billion
  • Herman Miller (MLHR): $2.0 billion
  • Knoll (KNL): $1.4 billion

HNI’s rating

On January 6, 2017, Sidoti initiated its coverage of HNI Corporation with “neutral” rating and also set the stock’s price target at $59.0 per share.

Article continues below advertisement

Performance of HNI in 3Q16

HNI reported 3Q16 net sales of $584.6 million—a fall of 5.1%, as compared to its net sales of $615.9 million in 3Q15. The net sales of its Office Furniture and Hearth Products segments fell 4.4% and 7.3%, respectively, in 3Q16 from 3Q15 levels. The company’s gross profit margin expanded 30 basis points, and its operating margin narrowed 110 basis points in 3Q16 as compared to 3Q15.

HNI’s net income and EPS (earnings per share) fell to $33.8 million and $0.74, respectively, in 3Q16, as compared to $40.8 million and $0.90, respectively, in 3Q15. It reported adjusted EPS of $0.80 in 3Q16—a fall of 14.0% from 3Q15.

HNI’s cash and cash equivalents fell 4.2%, and its inventories rose 20.4%, respectively, between 3Q16 and 4Q15.


HNI expects its sales to fall 1%–4% in 4Q16. It expects its non-GAAP (generally accepted accounting principles) EPS to be in the range of $2.60–$2.70 in 2016.

The company has made the following projections for 2017:

  • sales of -2%–2%
  • non-GAAP EPS of $2.75–$3.15

Next, we’ll look at Mohawk Industries (MHK).


More From Market Realist

  • BioNano Genomics Saphyr system
    Company & Industry Overviews
    BioNano Genomics (BNGO) Stock Looks Like a Buy, Solid Opportunity
  • Delta aircraft
    Company & Industry Overviews
    Delta Air Lines Updates Mandatory Vaccine Policy, Explained
  • AMC advertisement in walkway
    Company & Industry Overviews
    Why It's Time for Most Investors to Sell AMC Entertainment Stock
  • 100 Thieves founder Matthew Haag
    Company & Industry Overviews
    Why Growing Esports Company 100 Thieves Isn't Publicly Traded
  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market Realist Logo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.