Hooker Furnishings (NASDAQ:HOFT) Stock Passes Above Two Hundred Day Moving Average Following Analyst Downgrade

Hooker Furnishings Corp. (NASDAQ:HOFT)’s stock price passed above its 200-day moving average during trading on Wednesday after Weiss Ratings upgraded the stock from a sell (d-) rating to a sell (d) rating. The stock has a 200-day moving average of $13.55 and traded as high as $15.05. Hooker Furnishings shares last traded at $14.87, with a volume of 73,405 shares traded.

A number of other analysts have also weighed in on the stock. Zacks Research upgraded shares of Hooker Furnishings from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. Wall Street Zen upgraded shares of Hooker Furnishings from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Hedge Funds Weigh In On Hooker Furnishings

A number of hedge funds have recently bought and sold shares of the business. Donald Smith & CO. Inc. boosted its holdings in shares of Hooker Furnishings by 7.1% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,066,754 shares of the company’s stock valued at $12,044,000 after acquiring an additional 70,681 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Hooker Furnishings by 0.7% during the third quarter. Vanguard Group Inc. now owns 595,587 shares of the company’s stock valued at $6,045,000 after purchasing an additional 4,138 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Hooker Furnishings by 35.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 366,761 shares of the company’s stock valued at $4,141,000 after purchasing an additional 95,127 shares during the last quarter. Ameriprise Financial Inc. bought a new position in Hooker Furnishings during the second quarter valued at approximately $3,619,000. Finally, Gate City Capital Management LLC bought a new position in Hooker Furnishings during the fourth quarter valued at approximately $2,472,000. Hedge funds and other institutional investors own 73.60% of the company’s stock.

Hooker Furnishings Stock Down 0.6%

The company’s fifty day moving average is $14.44 and its 200-day moving average is $13.57. The company has a market cap of $151.55 million, a PE ratio of -6.57, a PEG ratio of 1.38 and a beta of 1.11.

Hooker Furnishings (NASDAQ:HOFT) last posted its earnings results on Thursday, June 11th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.17. The business had revenue of $69.45 million during the quarter, compared to the consensus estimate of $66.31 million. Hooker Furnishings had a negative net margin of 7.90% and a positive return on equity of 1.61%. Equities research analysts expect that Hooker Furnishings Corp. will post 0.77 EPS for the current fiscal year.

Hooker Furnishings Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 19th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Thursday, June 18th. Hooker Furnishings’s dividend payout ratio is -21.40%.

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.