Hooker Furnishings (NASDAQ:HOFT) Cut to “Strong Sell” at Zacks Research

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

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Hooker Furnishings in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Hooker Furnishings Stock Performance

Shares of NASDAQ:HOFT opened at $14.81 on Monday. The company has a market capitalization of $159.65 million, a price-to-earnings ratio of -5.27, a PEG ratio of 1.18 and a beta of 1.39. Hooker Furnishings has a 12 month low of $7.34 and a 12 month high of $15.39. The firm’s 50-day moving average is $11.79 and its 200 day moving average is $10.60. The company has a current ratio of 2.67, a quick ratio of 1.35 and a debt-to-equity ratio of 0.02.

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

Hooker Furnishings Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Sunday, December 21st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, December 19th. Hooker Furnishings’s payout ratio is presently -16.37%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HOFT. Empowered Funds LLC lifted its position in Hooker Furnishings by 7.2% during the first quarter. Empowered Funds LLC now owns 55,319 shares of the company’s stock worth $555,000 after buying an additional 3,696 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Hooker Furnishings in the 1st quarter worth $146,000. Strs Ohio purchased a new position in shares of Hooker Furnishings during the 1st quarter worth $124,000. Pzena Investment Management LLC raised its holdings in shares of Hooker Furnishings by 2.2% during the 2nd quarter. Pzena Investment Management LLC now owns 1,358,726 shares of the company’s stock worth $14,375,000 after acquiring an additional 29,615 shares during the period. Finally, Peapod Lane Capital LLC boosted its position in shares of Hooker Furnishings by 70.5% during the 2nd quarter. Peapod Lane Capital LLC now owns 145,876 shares of the company’s stock valued at $1,543,000 after acquiring an additional 60,304 shares during the last quarter. 73.60% of the stock is owned by institutional investors and hedge funds.

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.