HNI Corp (HNI)
HNI Corporation manufactures and sells workplace furniture and residential construction products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Taiwan, and Singapore. The company is headquartered in Muscatine, Iowa.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 90.17% per annum.
- HNI price at the close of July 25, 2024 was $53.94 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 29.14% per annum.
- HNI price at the close of July 25, 2024 was higher than the top border of the secondary price channel by $4.83 (9.84%).
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of HNI price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: March 13, 2023
End date: April 9, 2024
a = 0.8104
b = 0.0018
s = 0.0485
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0018) – 1
= 90.17%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0485) – 1
= 21.40%
March 13, 2023 calculations
Top border of price channel:
Exp(Y913)
= Exp(a + b × X913 + 2 × s)
= Exp(a + b × 1,326 + 2 × s)
= Exp(0.8104 + 0.0018 × 1,326 + 2 × 0.0485)
= Exp(3.2425)
= $25.60
Bottom border of price channel:
Exp(Y913)
= Exp(a + b × X913 – 2 × s)
= Exp(a + b × 1,326 – 2 × s)
= Exp(0.8104 + 0.0018 × 1,326 – 2 × 0.0485)
= Exp(3.0486)
= $21.09
April 9, 2024 calculations
Top border of price channel:
Exp(Y1,183)
= Exp(a + b × X1,183 + 2 × s)
= Exp(a + b × 1,719 + 2 × s)
= Exp(0.8104 + 0.0018 × 1,719 + 2 × 0.0485)
= Exp(3.9346)
= $51.14
Bottom border of price channel:
Exp(Y1,183)
= Exp(a + b × X1,183 – 2 × s)
= Exp(a + b × 1,719 – 2 × s)
= Exp(0.8104 + 0.0018 × 1,719 – 2 × 0.0485)
= Exp(3.7407)
= $42.13
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 90.17% per annum.
- HNI price at the close of July 25, 2024 was $53.94 and was inside the primary price channel.
Secondary Trend
Start date: November 2, 2023
End date: July 12, 2024
a = 2.5593
b = 0.0007
s = 0.0276
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0007) – 1
= 29.14%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0276) – 1
= 11.68%
November 2, 2023 calculations
Top border of price channel:
Exp(Y1,076)
= Exp(a + b × X1,076 + 2 × s)
= Exp(a + b × 1,560 + 2 × s)
= Exp(2.5593 + 0.0007 × 1,560 + 2 × 0.0276)
= Exp(3.7076)
= $40.76
Bottom border of price channel:
Exp(Y1,076)
= Exp(a + b × X1,076 – 2 × s)
= Exp(a + b × 1,560 – 2 × s)
= Exp(2.5593 + 0.0007 × 1,560 – 2 × 0.0276)
= Exp(3.5972)
= $36.50
July 12, 2024 calculations
Top border of price channel:
Exp(Y1,248)
= Exp(a + b × X1,248 + 2 × s)
= Exp(a + b × 1,813 + 2 × s)
= Exp(2.5593 + 0.0007 × 1,813 + 2 × 0.0276)
= Exp(3.8849)
= $48.66
Bottom border of price channel:
Exp(Y1,248)
= Exp(a + b × X1,248 – 2 × s)
= Exp(a + b × 1,813 – 2 × s)
= Exp(2.5593 + 0.0007 × 1,813 – 2 × 0.0276)
= Exp(3.7745)
= $43.57
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 29.14% per annum.
- HNI price at the close of July 25, 2024 was higher than the top border of the secondary price channel by $4.83 (9.84%).