Hooker Furnishings (NASDAQ:HOFT) Stock Rating Upgraded by Zacks Research

Hooker Furnishings (NASDAQ:HOFT) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Hooker Furnishings in a research note on Thursday, January 22nd. Wall Street Zen raised Hooker Furnishings from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Hooker Furnishings currently has a consensus rating of “Reduce”.

Hooker Furnishings Price Performance

Shares of HOFT opened at $13.53 on Tuesday. Hooker Furnishings has a 12 month low of $7.34 and a 12 month high of $15.99. 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 stock has a fifty day moving average price of $13.23 and a 200 day moving average price of $11.22. The company has a market cap of $145.85 million, a P/E ratio of -4.81, a PEG ratio of 1.09 and a beta of 1.35.

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, beating the consensus estimate of ($0.15) by $0.54. The company had revenue of $70.73 million during 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%. On average, research analysts forecast that Hooker Furnishings will post -0.44 earnings per share for the current year.

Institutional Trading of Hooker Furnishings

Several hedge funds and other institutional investors have recently modified their holdings of HOFT. Osaic Holdings Inc. grew its holdings 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 buying an additional 9,400 shares in the last quarter. Cerity Partners LLC purchased a new position in Hooker Furnishings during the 4th quarter valued at about $117,000. Strs Ohio acquired a new position in shares of Hooker Furnishings in the 1st quarter valued at about $124,000. LPL Financial LLC lifted 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 worth $132,000 after purchasing an additional 1,660 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Hooker Furnishings during the first quarter valued at approximately $146,000. Institutional investors and hedge funds 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.