HNI Corp (HNI) is Downgraded by Raymond James to Mkt Perform

HNI Corp (HNI) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on Sep 20, 2016.

On the company’s financial health, HNI Corp reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.18. The company had revenue of $501.00 million for the quarter, compared to analysts expectations of $495.00 million. The company’s revenue was down -4.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.21 EPS.

HNI Corp closed down -0.43 points or -0.80% at $52.99 with 283,057 shares getting traded on Friday. Post opening the session at $53.37, the shares hit an intraday low of $52.61 and an intraday high of $53.37 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Aug 31, 2016, Jerald K Dittmer (Executive Vice President) sold 8,200 shares at $55.89 per share price. According to the SEC, on Aug 30, 2016, Donald T Mead (Executive Vice President) sold 26,343 shares at $54.94 per share price. On Aug 1, 2016, Larry B Porcellato (director) sold 5,000 shares at $52.72 per share price, according to the Form-4 filing with the securities and exchange commission.

HNI Corporation (HNI) provides office furniture and hearth products. The Company manufactures and markets gas and wood burning fireplaces. The Company operates through two segments: office furniture and hearth products. The Company’s office furniture segment designs manufactures and markets a broad range of office furniture systems and seating across a range of price points. The Company’s products are sold under the various brands including HON Allsteel Maxon Gunlocke Paoli HBF artcobell Midwest Folding Products American Desk basyx by HON Lamex and ERGO as well as private labels. The Company’s hearth products segment offers products including gas wood and pellet burning fireplaces inserts stoves facings and accessories. The Company sells its products under the brands including Heatilator Heat & Glo Majestic Monessen Quadra-Fire Harman Stove Vermont Castings and PelPro.

HNI Corp

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