reports
- Dave Nicoski
- Ross LaDuke
Vermilion Short Shots: Technically Vulnerable Stocks
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
TGL. TECNOGLASS INC.
SM SM ENERGY COMPANY
MTDR MATADOR RESOURCES COMPANY
MDLZ MONDELEZ INTERNATIONAL INC. CLASS A
KAI KADANT INC.
JJSF J & J SNACK FOODS CORP.
HRL HORMEL FOODS CORPORATION
EEFT EURONET WORLDWIDE INC.
CVLT COMMVAULT SYSTEMS INC.
APOG APOGEE ENTERPRISES INC.
APD AIR PRODUCTS AND CHEMICALS INC.
ADP AUTOMATIC DATA PROCESSING INC.
WFT. WEST FRASER TIMBER CO. LTD.
NFLX NETFLIX INC.
HNI HNI CORPORATION
LPX LOUISIANA-PACIFIC CORPORATION
SXC SUNCOKE ENERGY INC.
TREX TREX COMPANY INC.
WSO WATSCO INC.
SPOT SPOTIFY TECHNOLOGY SA
MGY MAGNOLIA OIL & GAS CORP. CLASS A
CARR CARRIER GLOBAL CORP.
HPK HIGHPEAK ENERGY INC (A)
DFH DREAM FINDERS HOMES
FOUR SHIFT4 PAYMENTS
SRAD SPORTRADAR GROUP AG
2VZ LEONARDO DRS INC.
LIN LINDE PUBLIC LIMITED COMPANY
ETOR ETORO GROUP LTD
- Dave Nicoski
- Ross LaDuke
Vermilion Short Shots: Technically Vulnerable Stocks
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
MAN MANPOWERGROUP
LII LENNOX INTERNATIONAL INC.
ITW ILLINOIS TOOL WORKS INC.
LNG CHENIERE ENERGY INC.
ABM ABM INDUSTRIES INCORPORATED
VRSK VERISK ANALYTICS INC
TYL TYLER TECHNOLOGIES INC.
TXN TEXAS INSTRUMENTS INCORPORATED
TNET TRINET GROUP INC.
RHI ROBERT HALF INTERNATIONAL INC.
KMB KIMBERLY-CLARK CORPORATION
FFIV F5 NETWORKS INC.
FDS FACTSET RESEARCH SYSTEMS INC.
FAST FASTENAL COMPANY
EXPO EXPONENT INC.
EEFT EURONET WORLDWIDE INC.
DECK DECKERS OUTDOOR CORPORATION
CLX CLOROX COMPANY
CL COLGATE-PALMOLIVE COMPANY
BAH BOOZ ALLEN HAMILTON HOLDING CORPORATION CLASS A
APOG APOGEE ENTERPRISES INC.
ALSN ALLISON TRANSMISSION HOLDINGS INC.
ADP AUTOMATIC DATA PROCESSING INC.
WFT. WEST FRASER TIMBER CO. LTD.
LZB LAZBOY INCORPORATED
WM WALLBRIDGE MINING CO. LTD.
CWST CASELLA WASTE SYSTEMS INC. CLASS A
HNI HNI CORPORATION
RSG REPUBLIC SERVICES INC.
TREX TREX COMPANY INC.
AOS A. O. SMITH CORPORATION
GGG GIAIPHONG MOTOR JSC
LI LI AUTO INC. SPONSORED ADR CLASS A
HPK HIGHPEAK ENERGY INC (A)
UFPI UFP INDUSTRIES INC.
GFL GFL ENVIRONMENTAL INC
FOUR SHIFT4 PAYMENTS
ONON ON HLDNG AG
2VZ LEONARDO DRS INC.
KNF KNIFE RIVER CORPORATION
BIRK BIRKENSTOCK HOLDING PLC
CPAY CORPAY INC.
HNI Corporation Announces Extension of Exchange Offer
HNI Corporation Announces Extension of Exchange Offer MUSCATINE, Iowa, Oct. 27, 2025 (GLOBE NEWSWIRE) -- HNI Corporation (NYSE: HNI; “HNI” or “the Corporation”) announced a definitive agreement to acquire Steelcase, Inc. (NYSE: SCS; “Steelcase”) in a cash and stock transaction (the “Acquisition”). In connection with the Acquisition, HNI previously announced the commencement of an offer to exchange any and all outstanding 5.125% Notes due 2029 (the “Existing Steelcase Notes”), as issued by Steelcase, for up to $450,000,000 aggregate principal amount of new notes to be issued by HNI (the “N...
Allsteel Explores the Office as a Hub for Collaboration, Culture, and ...
Allsteel Explores the Office as a Hub for Collaboration, Culture, and Connection The brand’s latest offerings combine sustainability, personalization, and flexible design to shape workplaces that reflect organizational values and support evolving needs. Chicago, IL, Oct. 20, 2025 (GLOBE NEWSWIRE) -- The workplace has evolved, moving from outdated, routine-focused environments into vibrant destinations where collaboration, culture, and purpose converge. Offices are no longer just places to work – they are cultural hubs and tangible reflections of organizational values. As a leader in wor...
HNI Corporation Announces Results of Early Participation in Exchange O...
HNI Corporation Announces Results of Early Participation in Exchange Offer and Consent Solicitation MUSCATINE, Iowa, Oct. 10, 2025 (GLOBE NEWSWIRE) -- On August 4, 2025, HNI Corporation (NYSE: HNI; “HNI” or “the Corporation”) announced a definitive agreement to acquire Steelcase, Inc. (NYSE: SCS; “Steelcase”) in a cash and stock transaction (the “Acquisition”). In connection with the Acquisition, HNI previously announced the commencement of an offer to exchange any and all outstanding 5.125% Notes due 2029 (the “Existing Steelcase Notes”), as issued by Steelcase, for up to $450,000,000 ag...
HNI Corporation Commences Exchange Offer and Consent Solicitation
HNI Corporation Commences Exchange Offer and Consent Solicitation MUSCATINE, Iowa, Sept. 26, 2025 (GLOBE NEWSWIRE) -- On August 4, 2025, HNI Corporation (NYSE: HNI; “HNI” or “the Corporation”) announced a definitive agreement to acquire Steelcase, Inc. (NYSE: SCS; “Steelcase”) in a cash and stock transaction (the “Acquisition”). The companies’ complementary brand portfolios, dealer networks, and industry segments are expected to enhance customer reach and enable the combined company to accelerate strategic initiatives to better serve customers and drive long-term profitable growth. On a p...
Allsteel Reimagines Showroom Experience with D.C. Design Lab
Allsteel Reimagines Showroom Experience with D.C. Design Lab New Co-Solutioning Concept Embraces “Living in Beta” Model to Support Evolving Workplace Needs Washington, D.C., Sept. 09, 2025 (GLOBE NEWSWIRE) -- Leading workplace innovator Allsteel has opened its Design Lab in Washington, D.C., a dynamic, hands-on environment designed to explore the future of the workplace. Reflecting the brand’s “Living in Beta” philosophy, the lab operates as a living laboratory, an agile, evolving space where experimentation meets intentionality. Created in partnership with Gensler D.C., the Design Lab ...
Allsteel Announces Enhancements to Evo Chair for an Eco-Friendly, Refi...
Allsteel Announces Enhancements to Evo Chair for an Eco-Friendly, Refined Design Evo Series Expands with Options for Increased Material and Color Expression and User Comfort Chicago, IL., June 02, 2025 (GLOBE NEWSWIRE) -- Workplace solutions leader has expanded its best-selling Evo series with a more sustainable seating option, designed for everyone, everywhere. Evo’s new enhancements allow the chair to meet the ever-changing demands of modern workspaces while pushing the boundaries of versatility, sustainability, and human-centered design. Now offering options for an eco-friendly Quil...
Hni Corp: 1 director
A director at Hni Corp sold 5,299 shares at 52.957USD and the significance rating of the trade was 51/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing...
- Brian Gordon
- Budd Bugatch
HNI: 2Q24 Adjusted EPS of $0.79 Beats WTR Estimate of $0.62 by $0.17; ...
Before the opening Thursday, HNI reported strong 2Q24 earnings results. Diluted GAAP EPS of $0.75 compared with a reported GAAP loss of $0.30 in 2Q23 due to acquisition costs from acquiring Kimball International. More importantly, non-GAAP EPS beat our $0.62 estimate (and consensus of $0.61) due to a strong performance from the Workplace Furnishings (WF) profit transformation and continued excellent profit performance from HNI’s market leading Residential Building Products (RBP) segment. The onl...
- Brian Gordon
- Budd Bugatch
Updating FY25 and FY26 EPS Estimates Following HBF Restructuring Annou...
With this note, we update our FY25 and FY26 EPS estimates following HNI’s earlier announced plant consolidation and restructuring initiative. Our note from May 21 discusses HNI’s plans to close its Hickory, NC Workplace Furnishings (WF) furniture manufacturing operation and transfer that production to its other North American facilities. Our refreshed estimates give effect to management’s targeted cost savings and synergies in production and logistics. We expect FY25 EPS of $3.64, up $0.08 from ...
- Brian Gordon
- Budd Bugatch
Announces $10.3MM HBF Restructuring; FY24 Numbers Unaffected as Costs ...
After Monday’s market close, HNI announced an intended plant consolidation in which it will close its Hickory, NC furniture manufacturing plant (HBF is part of its Workplace Furnishings [WF] segment) during 1H25 and transfer production to other North American facilities. Management avows that the initiative will improve productivity and strengthen operations but, importantly, will not sacrifice capacity or create disruption to customers who will benefit ultimately from better delivery and logist...
- Brian Gordon
- Budd Bugatch
Revising FY24 EPS Estimates Following Strong 1Q EPS Beat and Continued...
In the wake of HNI’s strong 1Q margin performance, we are revising our FY24 and out-year consolidated revenue and EPS estimates (see Figure 1). In its release and earnings call, management exuded confidence that margins should continue to expand through FY24 given the combined effects of price/cost gains, productivity improvements, simplification/streamlining initiatives, and accretion from the mid-2023 KII acquisition. Our new estimates reflect better margins, with adjustments accounting for a...
- Brian Gordon
- Budd Bugatch
HNI 1Q24 EPS of $0.37 (Versus $0.04 LY) Nearly Double Our Estimate of ...
HNI posted 1Q24 EPS of $0.37, far exceeding our estimate of $0.19, consensus of $0.18, and 1Q23 results of $0.04 despite a high single-digit organic revenue decline. Accretion from the KII acquisition and management’s initiatives to boost profitability catalyzed the beat. Consolidated gross margin of 39.6% (up 323 bps) and operating income margin of 5.1% (up 371 bps) reflect substantial Y/Y improvement in both segments. In Workplace Furnishings (WF), 1Q24 operating income margin advanced 731 bps...
- Budd Bugatch
- Rex Henderson
Raising Full-Year Estimate
Following a strong 4Q23 report and solid guidance, we are raising our full-year estimate and adjusting the interim periods. 4Q margins were strong, notably in the Residential Building Products (RBP) segment. Workplace Furnishings (WF) margins also improved, with improvement still ahead through pricing, productivity, and KII integration savings. Hearth orders in the RBP segment have been stronger in the new construction channel. Management expects mid-single-digit growth in 2024 and remodel/retro...
- Budd Bugatch
- Rex Henderson
HNI Margins Drive Adjusted EPS Beat
Before the open, HNI reported 4Q23 results, beating on adjusted EPS and roughly in line on the consolidated revenue line. Adjusted EPS was $0.98, well ahead of our estimate of $0.84 and consensus of $0.83. The adjusted number excluded ~$0.50 of restructuring asset impairment and acquisition-related costs. Revenue was $679.8 million, up 19.5% Y/Y, just below our estimate, and about $5 million below consensus. Residential Building Products (RBP) revenue fell 13.1% versus the same period a year ago...
- Budd Bugatch
- Rex Henderson
4Q Preview: Watching Order Trends in Office Furniture
HNI reports 4QFY23 ended December 31, 2023, on February 22 before the market opens, followed by a conference call at 11:00 am ET. We are expecting EPS of $0.84 on revenue of $681 million. Consensus EPS is $0.83, with a range of $0.80-0.84 among four analysts. Consensus revenue is $685 million. A year ago, HNI reported EPS of $0.63 on revenue of $569 million. We expect the adjusted operating margin to expand 250 bps to 8.8%, partially offset by higher interest expense due to the debt incurred for...
- Budd Bugatch
- Rex Henderson
Introducing User-Friendly Model
We are publishing this note to introduce a new HNI financial model inclusive of the acquisition of Kimball International. We expect this new model will be more user-friendly for investors who want to see how we arrive at our estimates or tinker with the assumptions. Per our discipline, our model is available on request or visible through our partners. Our revenue and operating margin assumptions and estimates are mostly unchanged. That said, our EPS estimates have changed slightly because of our...
- Budd Bugatch
- Rex Henderson
Raising Estimates following Strong 3Q Earnings Report - Correction
This note corrects the version that was published on November 2. Due to errors in our model, the full-year estimate for 2024 was not calculated properly. The correct full-year 2024 EPS estimate is $2.65. We are raising our non-GAAP (adjusted) EPS estimates for 4Q23 and 2024 following HNI’s strong 3Q23 earnings report on Tuesday, October 31, 2023. Our sales estimates have moderated. Following the 3Q23 report, margins should be sustainably stronger. HNI reported 3Q23 adjusted EPS of $0.93, $0.30 b...
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