Hooker Furnishings (NASDAQ:HOFT) Upgraded at Zacks Research

Zacks Research upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Hooker Furnishings in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Hooker Furnishings presently has a consensus rating of “Reduce”.

Hooker Furnishings Stock Up 2.0%

Shares of HOFT opened at $8.80 on Monday. The stock has a market capitalization of $94.60 million, a PE ratio of -7.27 and a beta of 1.37. Hooker Furnishings has a 1 year low of $7.34 and a 1 year high of $19.79. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 2.99. The company’s 50-day simple moving average is $10.09 and its 200-day simple moving average is $9.98.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings results on Thursday, September 11th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.19). The business had revenue of $82.15 million for the quarter, compared to analyst estimates of $91.21 million. Hooker Furnishings had a negative return on equity of 4.17% and a negative net margin of 3.40%.During the same period in the prior year, the company posted ($0.19) EPS. Analysts forecast that Hooker Furnishings will post -0.44 earnings per share for the current fiscal year.

Hooker Furnishings Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, September 19th. This represents a $0.92 dividend on an annualized basis and a yield of 10.5%. Hooker Furnishings’s dividend payout ratio (DPR) is presently -76.03%.

Institutional Trading of Hooker Furnishings

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in Hooker Furnishings by 9,630.8% during the first quarter. GAMMA Investing LLC now owns 5,060 shares of the company’s stock worth $504,000 after purchasing an additional 5,008 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Hooker Furnishings by 940.0% during the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock worth $110,000 after purchasing an additional 9,400 shares in the last quarter. Strs Ohio acquired a new stake in Hooker Furnishings during the first quarter worth approximately $124,000. Jane Street Group LLC acquired a new stake in Hooker Furnishings during the first quarter worth approximately $146,000. Finally, Baron Wealth Management LLC raised its holdings in Hooker Furnishings by 39.6% during the second quarter. Baron Wealth Management LLC now owns 16,596 shares of the company’s stock worth $176,000 after purchasing an additional 4,707 shares in the last quarter. Institutional investors and hedge funds own 73.60% 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.