HNI Corporation (HNI) Powers Ahead with Steelcase Deal and Analyst Confidence

Core Insights - HNI Corporation is identified as a promising investment opportunity for 2026, with Benchmark Co. raising its price target from $60 to $75 per share while maintaining a Buy recommendation [1][2] Group 1: Financial Performance and Projections - HNI Corporation announced plans to acquire Steelcase Inc. for an enterprise value of approximately $2.2 billion, with expected annual cost synergies of around $120 million post-integration [2] - The acquisition is projected to enhance HNI's earnings per share by $0.50 to $0.60 by fiscal year 2027 [2] - HNI's current price-to-earnings ratio stands at 13.35, indicating that the stock is priced below its historical values, suggesting potential for profit growth [3] Group 2: Operational Changes - HNI plans to close its manufacturing facility in Wayland, New York, by 2027, impacting about 135 jobs [4] - The company will continue to produce products currently made at the Wayland plant at other locations, with no expected changes to product quality or lineup [5] - Annual cost savings from this consolidation are estimated to be between $7.5 million and $8 million once fully implemented [5] Group 3: Company Overview - HNI Corporation specializes in manufacturing workplace furnishings and residential building products, including furniture systems, seating, and fireplaces [6]