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 released on Thursday,Zacks.com reports.

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

Hooker Furnishings Stock Performance

Shares of Hooker Furnishings stock opened at $11.22 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.35 and a current ratio of 2.67. The company has a 50-day simple moving average of $10.23 and a two-hundred day simple moving average of $10.27. The company has a market capitalization of $120.95 million, a PE ratio of -3.99 and a beta of 1.41. Hooker Furnishings has a one year low of $7.34 and a one year high of $14.23.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings data on Thursday, December 11th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.54. Hooker Furnishings had a negative return on equity of 1.07% and a negative net margin of 8.71%.The company had revenue of $70.73 million for the quarter, compared to analyst estimates of $85.50 million. Research analysts expect that Hooker Furnishings will post -0.44 EPS for the current fiscal year.

Hooker Furnishings Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Sunday, December 21st will be paid a $0.115 dividend. The ex-dividend date is Friday, December 19th. This represents a $0.46 annualized dividend and a dividend yield of 4.1%. Hooker Furnishings’s dividend payout ratio (DPR) is -16.37%.

Institutional Investors Weigh In On Hooker Furnishings

Hedge funds and other institutional investors have recently modified their holdings of the stock. Atlantic Union Bankshares Corp increased its stake in Hooker Furnishings by 22.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 15,860 shares of the company’s stock valued at $161,000 after purchasing an additional 2,860 shares in the last quarter. Empowered Funds LLC grew its position in shares of Hooker Furnishings by 7.2% in the first quarter. Empowered Funds LLC now owns 55,319 shares of the company’s stock valued at $555,000 after purchasing an additional 3,696 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Hooker Furnishings by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 595,587 shares of the company’s stock worth $6,045,000 after purchasing an additional 4,138 shares in the last quarter. Baron Wealth Management LLC grew its holdings in Hooker Furnishings by 39.6% during the 2nd quarter. Baron Wealth Management LLC now owns 16,596 shares of the company’s stock valued at $176,000 after buying an additional 4,707 shares during the last quarter. Finally, GSA Capital Partners LLP raised its holdings in shares of Hooker Furnishings by 40.0% in the third quarter. GSA Capital Partners LLP now owns 17,372 shares of the company’s stock worth $176,000 after acquiring an additional 4,959 shares during the last quarter. 73.60% of the stock is currently owned by institutional investors and hedge funds.

Hooker Furnishings Company Profile

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.