Zacks Research Upgrades Hooker Furnishings (NASDAQ:HOFT) to “Hold”

Hooker Furnishings (NASDAQ:HOFT) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Hooker Furnishings in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Hooker Furnishings has an average rating of “Reduce”.

Hooker Furnishings Stock Performance

Shares of HOFT opened at $11.22 on Thursday. The stock has a 50-day moving average of $10.23 and a 200-day moving average of $10.29. Hooker Furnishings has a one year low of $7.34 and a one year high of $14.23. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.67 and a quick ratio of 1.35. The company has a market cap of $120.95 million, a PE ratio of -3.99 and a beta of 1.41.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings results on Thursday, December 11th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.54. Hooker Furnishings had a negative return on equity of 1.07% and a negative net margin of 8.71%.The business had revenue of $70.73 million for the quarter, compared to analyst estimates of $85.50 million. On average, equities research analysts predict that Hooker Furnishings will post -0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Hooker Furnishings

Large investors have recently bought and sold shares of the stock. Osaic Holdings Inc. lifted its position in shares of Hooker Furnishings by 940.0% during the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock valued at $110,000 after purchasing an additional 9,400 shares in the last quarter. Strs Ohio bought a new position in shares of Hooker Furnishings during the 1st quarter worth approximately $124,000. Jane Street Group LLC purchased a new position in shares of Hooker Furnishings in the 1st quarter worth approximately $146,000. Bank of America Corp DE grew its holdings in shares of Hooker Furnishings by 61.2% in the third quarter. Bank of America Corp DE now owns 15,126 shares of the company’s stock valued at $154,000 after acquiring an additional 5,740 shares in the last quarter. Finally, Atlantic Union Bankshares Corp increased its position in shares of Hooker Furnishings by 22.0% during the third quarter. Atlantic Union Bankshares Corp now owns 15,860 shares of the company’s stock valued at $161,000 after acquiring an additional 2,860 shares during the last quarter. 73.60% of the stock is currently owned by institutional investors.

Hooker Furnishings Company Profile

Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.

The company’s operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.