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

Wall Street Zen upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday.

Other equities analysts also recently issued research reports about the company. Weiss Ratings downgraded Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Zacks Research downgraded Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Hooker Furnishings Price Performance

Shares of NASDAQ HOFT opened at $13.65 on Friday. The firm’s 50-day moving average is $14.47 and its two-hundred day moving average is $13.61. The company has a market capitalization of $146.60 million, a PE ratio of -6.35, a price-to-earnings-growth ratio of 1.31 and a beta of 1.11. Hooker Furnishings has a 12-month low of $8.61 and a 12-month high of $18.09.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings data on Thursday, June 11th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.17. Hooker Furnishings had a negative net margin of 7.90% and a positive return on equity of 1.61%. The business had revenue of $69.45 million during the quarter, compared to analysts’ expectations of $66.31 million. On average, analysts forecast that Hooker Furnishings will post 0.77 EPS for the current fiscal year.

Hooker Furnishings Announces Dividend

The company also recently announced 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. The ex-dividend date was Thursday, June 18th. This represents a $0.46 dividend on an annualized basis and a yield of 3.4%. Hooker Furnishings’s dividend payout ratio (DPR) is -21.40%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HOFT. Cerity Partners LLC purchased a new position in shares of Hooker Furnishings during the 4th quarter worth $117,000. Osaic Holdings Inc. grew its position in shares of Hooker Furnishings by 940.0% in 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 during the period. LPL Financial LLC grew its position in shares of Hooker Furnishings by 16.6% in the fourth quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock valued at $132,000 after purchasing an additional 1,660 shares during the period. Strs Ohio acquired a new position in Hooker Furnishings in the first quarter valued at $124,000. Finally, Jane Street Group LLC acquired a new position in Hooker Furnishings in the first quarter valued at $146,000. 73.60% of the stock is currently owned by institutional investors and hedge funds.

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.