BidaskClub downgraded shares of Hooker Furniture Corporation (NASDAQ:HOFT) from a buy rating to a hold rating in a research note released on Friday morning.

Shares of Hooker Furniture Corporation (HOFT) opened at 41.15 on Friday. The firm’s 50-day moving average price is $42.48 and its 200 day moving average price is $38.79. The company has a market cap of $475.49 million, a price-to-earnings ratio of 17.37 and a beta of 0.60. Hooker Furniture Corporation has a 52 week low of $22.79 and a 52 week high of $46.60.

Hooker Furniture Corporation (NASDAQ:HOFT) last issued its quarterly earnings data on Thursday, June 8th. The company reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.05. The firm had revenue of $130.90 million for the quarter, compared to analysts’ expectations of $133.83 million. Hooker Furniture Corporation had a net margin of 4.70% and a return on equity of 14.53%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. On average, equities research analysts forecast that Hooker Furniture Corporation will post $2.67 EPS for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of HOFT. Legal & General Group Plc raised its position in Hooker Furniture Corporation by 40.0% in the second quarter. Legal & General Group Plc now owns 2,424 shares of the company’s stock valued at $100,000 after buying an additional 693 shares in the last quarter. Bank of Montreal Can raised its position in Hooker Furniture Corporation by 455.0% in the second quarter. Bank of Montreal Can now owns 4,645 shares of the company’s stock valued at $191,000 after buying an additional 3,808 shares in the last quarter. First Interstate Bank raised its position in Hooker Furniture Corporation by 2.2% in the second quarter. First Interstate Bank now owns 5,333 shares of the company’s stock valued at $219,000 after buying an additional 115 shares in the last quarter. Gotham Asset Management LLC bought a new position in Hooker Furniture Corporation during the second quarter valued at approximately $229,000. Finally, Hancock Holding Co. bought a new position in Hooker Furniture Corporation during the second quarter valued at approximately $237,000. Hedge funds and other institutional investors own 84.20% of the company’s stock.

Hooker Furniture Corporation Company Profile

Hooker Furniture Corporation is a home furnishings marketing, design and logistics company offering sourcing of residential casegoods and upholstery, as well as domestically-produced leather and fabric-upholstered furniture. The Company operates through three segments: casegoods furniture, upholstered furniture and all other.

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