HNI (NYSE:HNI) Shares Pass Above 200-Day Moving Average – What’s Next?

HNI Corporation (NYSE:HNI) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $44.31 and traded as high as $52.59. HNI shares last traded at $51.7760, with a volume of 426,359 shares changing hands.

Wall Street Analysts Forecast Growth

HNI has been the topic of a number of recent research reports. Benchmark reiterated a “buy” rating on shares of HNI in a research report on Friday, January 16th. Wall Street Zen cut shares of HNI from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings upgraded shares of HNI from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 3rd. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, HNI currently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

HNI Trading Down 0.0%

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.85 and a current ratio of 1.33. The stock has a market capitalization of $2.37 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 0.63 and a beta of 0.94. The stock has a 50-day moving average price of $44.81 and a two-hundred day moving average price of $44.31.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HNI. Triumph Capital Management purchased a new position in HNI during the third quarter valued at $28,000. GAMMA Investing LLC boosted its stake in HNI by 59.9% during the fourth quarter. GAMMA Investing LLC now owns 1,223 shares of the business services provider’s stock worth $51,000 after acquiring an additional 458 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of HNI by 433.7% during the third quarter. Versant Capital Management Inc now owns 1,110 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 902 shares in the last quarter. Nations Financial Group Inc. IA ADV bought a new stake in shares of HNI in the 3rd quarter worth approximately $203,000. Finally, Equitable Trust Co. increased its position in HNI by 22.5% during the 3rd quarter. Equitable Trust Co. now owns 7,520 shares of the business services provider’s stock valued at $352,000 after buying an additional 1,380 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.

About HNI

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI’s Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.