Hooker Furnishings (NASDAQ:HOFT) Stock Rating Lowered by Wall Street Zen

Hooker Furnishings (NASDAQ:HOFT) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other research analysts have also issued reports about the company. Zacks Research upgraded Hooker Furnishings from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Hooker Furnishings in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

Hooker Furnishings Stock Up 2.1%

Hooker Furnishings stock opened at $15.32 on Friday. The firm has a market cap of $165.15 million, a price-to-earnings ratio of -5.45, a P/E/G ratio of 1.41 and a beta of 1.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.67 and a quick ratio of 1.35. Hooker Furnishings has a fifty-two week low of $7.34 and a fifty-two week high of $15.99. The firm has a fifty day moving average price of $13.60 and a two-hundred day moving average price of $11.68.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cerity Partners LLC acquired a new position in shares of Hooker Furnishings in the fourth quarter valued at $117,000. Osaic Holdings Inc. raised its stake in shares of Hooker Furnishings by 940.0% in the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock valued at $110,000 after purchasing an additional 9,400 shares in the last quarter. LPL Financial LLC raised its stake in shares of Hooker Furnishings by 16.6% in the fourth quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock valued at $132,000 after purchasing an additional 1,660 shares in the last quarter. Strs Ohio acquired a new position in shares of Hooker Furnishings in the first quarter valued at $124,000. Finally, Jane Street Group LLC acquired a new position in shares of Hooker Furnishings in the first quarter valued at $146,000. 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.