Hooker Furnishings (NASDAQ:HOFT) Upgraded at Zacks Research

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

A number of other research firms also recently commented on HOFT. Wall Street Zen upgraded Hooker Furnishings from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings downgraded Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Hooker Furnishings Price Performance

Shares of NASDAQ HOFT opened at $15.21 on Monday. The stock’s 50-day moving average is $13.16 and its two-hundred day moving average is $12.78. Hooker Furnishings has a 1-year low of $8.61 and a 1-year high of $16.41. The company has a market cap of $163.36 million, a price-to-earnings ratio of -7.07, a price-to-earnings-growth ratio of 1.47 and a beta of 1.19.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings results on Thursday, June 11th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.17. Hooker Furnishings had a positive return on equity of 1.61% and a negative net margin of 7.90%.The company had revenue of $69.45 million for the quarter, compared to the consensus estimate of $66.31 million. Equities research analysts anticipate that Hooker Furnishings will post 0.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HOFT. First Eagle Investment Management LLC boosted its position in shares of Hooker Furnishings by 15.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 364,973 shares of the company’s stock valued at $3,704,000 after purchasing an additional 47,559 shares during the period. Pzena Investment Management LLC boosted its position in shares of Hooker Furnishings by 4.2% in the 3rd quarter. Pzena Investment Management LLC now owns 1,416,002 shares of the company’s stock valued at $14,372,000 after purchasing an additional 57,276 shares during the period. Donald Smith & CO. Inc. boosted its position in shares of Hooker Furnishings by 7.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,066,754 shares of the company’s stock valued at $12,044,000 after purchasing an additional 70,681 shares during the period. GSA Capital Partners LLP boosted its position in shares of Hooker Furnishings by 40.0% in the 3rd quarter. GSA Capital Partners LLP now owns 17,372 shares of the company’s stock valued at $176,000 after purchasing an additional 4,959 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of Hooker Furnishings in the 2nd quarter valued at about $202,000. Hedge funds and other 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.