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HNI Corporation (HNI) engages in designing, manufacturing, and marketing office furniture and hearth products primarily in the United States, Canada, China, Hong Kong, India, and Taiwan.
It operates in two segments, Office Furniture and Hearth Products.
The Office Furniture segment offers 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 under the HON, Allsteel, Maxon, Gunlocke, Paoli, HBF, Artco Bell, Midwest Folding Products, LSI Corporation of America, basyx, Lamex, and ERGO brand names, as well as under private labels. This segment sells its products through independent, local office furniture, and office products dealers; national office product distributors; corporate accounts; wholesalers; and direct sales to federal, state, and local government offices.
The Hearth Products segment provides various gas, electric, and wood burning fireplaces; inserts; stoves; facings; and accessories for the home under the Heatilator, Heat & Glo, Quadra-Fire, Harman Stove, and PelPro brand names. This segment markets its products through dealers and distributors, as well as through corporation-owned distribution and retail outlets.
Shares are heading higher in an upward trading channel and higher prices are expected for this stock.
We are now hearing rumors of good news for this company. One of the rumors states that this stock will be named by the leading stock advisory service as one of its "top picks." This service is widely followed by mutual funds and institutional money managers. These investors have portfolios that mimic recommendations of this service. Their naming of the stock should lead to additional demand for the shares.
52-Week Trading Range: $21.57 - $35.74
Entry Point: $33.00
Stop Loss: $31.35
Target Price: $36.30
HNI position was closed at $36.40 after it exceeded our target price. If you elect to stay in the stock, adjust your stop loss upward to $36.00 to protect your gains.
