Hooker Furnishings (NASDAQ:HOFT) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Hooker Furnishings Corp. (NASDAQ:HOFT) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.51 and traded as high as $13.64. Hooker Furnishings shares last traded at $12.88, with a volume of 30,203 shares trading hands.

Analyst Ratings Changes

HOFT has been the topic of several recent analyst reports. Wall Street Zen raised Hooker Furnishings from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Zacks Research upgraded shares of Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hooker Furnishings in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce”.

Hooker Furnishings Stock Down 1.2%

The firm has a market cap of $138.82 million, a price-to-earnings ratio of -4.58, a P/E/G ratio of 1.06 and a beta of 1.35. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.67 and a quick ratio of 1.35. The stock has a 50-day moving average of $13.49 and a 200-day moving average of $11.51.

Hooker Furnishings Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, March 16th. Hooker Furnishings’s dividend payout ratio is currently -16.37%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Azarias Capital Management L.P. raised its position in shares of Hooker Furnishings by 33.6% in the 3rd quarter. Azarias Capital Management L.P. now owns 473,179 shares of the company’s stock worth $4,803,000 after acquiring an additional 118,989 shares in the last quarter. RBF Capital LLC bought a new stake in shares of Hooker Furnishings during the 2nd quarter valued at about $2,807,000. First Eagle Investment Management LLC boosted its position in shares of Hooker Furnishings by 15.0% during 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 in the last quarter. Pzena Investment Management LLC grew its stake in Hooker Furnishings by 4.2% during the third quarter. Pzena Investment Management LLC now owns 1,416,002 shares of the company’s stock worth $14,372,000 after purchasing an additional 57,276 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in 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 purchasing an additional 4,959 shares in the last quarter. 73.60% of the stock is currently owned by institutional investors.

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.