Hooker Furnishings (NASDAQ:HOFT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a sell rating to a hold rating in a research note issued to investors on Saturday.

A number of other brokerages also recently weighed in on HOFT. Zacks Research downgraded shares of Hooker Furnishings from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Hooker Furnishings in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Hooker Furnishings Price Performance

HOFT opened at $15.05 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.35 and a debt-to-equity ratio of 0.02. The company has a market cap of $162.24 million, a price-to-earnings ratio of -5.36, a price-to-earnings-growth ratio of 1.22 and a beta of 1.39. The stock has a fifty day simple moving average of $12.42 and a two-hundred day simple moving average of $10.84. Hooker Furnishings has a 12-month low of $7.34 and a 12-month high of $15.99.

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

Hooker Furnishings Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Sunday, December 21st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, December 19th. Hooker Furnishings’s payout ratio is presently -16.37%.

Institutional Trading of Hooker Furnishings

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC raised its stake in shares of Hooker Furnishings by 7.2% in the first quarter. Empowered Funds LLC now owns 55,319 shares of the company’s stock worth $555,000 after purchasing an additional 3,696 shares during the last quarter. Jane Street Group LLC bought a new stake in Hooker Furnishings in the 1st quarter worth about $146,000. Strs Ohio bought a new stake in Hooker Furnishings in the 1st quarter worth about $124,000. Peapod Lane Capital LLC raised its position in Hooker Furnishings by 70.5% in the 2nd quarter. Peapod Lane Capital LLC now owns 145,876 shares of the company’s stock worth $1,543,000 after buying an additional 60,304 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Hooker Furnishings during the 2nd quarter valued at about $265,000. Institutional investors own 73.60% of the company’s stock.

About Hooker Furnishings

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.