StockNews.com Downgrades Hooker Furnishings (NASDAQ:HOFT) to Sell

Hooker Furnishings (NASDAQ:HOFT) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Sunday.

Hooker Furnishings Stock Performance

Shares of NASDAQ HOFT opened at $8.69 on Friday. The company has a current ratio of 3.16, a quick ratio of 1.76 and a debt-to-equity ratio of 0.10. Hooker Furnishings has a 12-month low of $7.34 and a 12-month high of $19.79. The firm has a market capitalization of $93.07 million, a price-to-earnings ratio of -9.55, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23. The firm has a 50 day moving average of $11.11 and a 200 day moving average of $14.07.

Hooker Furnishings (NASDAQ:HOFT) last posted its quarterly earnings data on Thursday, April 17th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.15). The company had revenue of $104.46 million for the quarter, compared to analysts’ expectations of $101.25 million. Hooker Furnishings had a negative net margin of 2.46% and a negative return on equity of 3.51%. During the same period in the previous year, the firm earned $0.06 earnings per share. On average, research analysts anticipate that Hooker Furnishings will post -0.44 earnings per share for the current year.

Institutional Trading of Hooker Furnishings

A number of large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in shares of Hooker Furnishings by 225.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company’s stock valued at $43,000 after purchasing an additional 2,130 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Hooker Furnishings by 9,630.8% during the first quarter. GAMMA Investing LLC now owns 5,060 shares of the company’s stock valued at $504,000 after purchasing an additional 5,008 shares during the period. Wells Fargo & Company MN increased its stake in Hooker Furnishings by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 6,227 shares of the company’s stock worth $87,000 after buying an additional 1,356 shares during the period. Oak Hill Wealth Advisors LLC bought a new stake in Hooker Furnishings during the 4th quarter valued at about $145,000. Finally, Deutsche Bank AG raised its stake in shares of Hooker Furnishings by 97.5% during the fourth quarter. Deutsche Bank AG now owns 14,494 shares of the company’s stock valued at $203,000 after acquiring an additional 7,157 shares in the last quarter. Institutional investors own 73.63% of the company’s stock.

About Hooker Furnishings

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.