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

Hooker Furnishings Corp. (NASDAQ:HOFT)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.42 and traded as high as $13.47. Hooker Furnishings shares last traded at $13.15, with a volume of 57,333 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on HOFT shares. Zacks Research upgraded shares of Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Hooker Furnishings in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Hooker Furnishings Price Performance

The company’s 50 day moving average is $11.19 and its 200 day moving average is $10.42. The firm has a market capitalization of $141.76 million, a price-to-earnings ratio of -4.68 and a beta of 1.39. The company has a quick ratio of 1.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.02.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings results on Thursday, December 11th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.54. The business had revenue of $70.73 million during the quarter, compared to analysts’ expectations of $85.50 million. Hooker Furnishings had a negative return on equity of 1.07% and a negative net margin of 8.71%. On average, equities research analysts anticipate that Hooker Furnishings Corp. will post -0.44 earnings per share for the current fiscal year.

Hooker Furnishings Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Sunday, December 21st were given a $0.115 dividend. The ex-dividend date was Friday, December 19th. This represents a $0.46 annualized dividend and a dividend yield of 3.5%. Hooker Furnishings’s payout ratio is presently -16.37%.

Hedge Funds Weigh In On Hooker Furnishings

Institutional investors have recently modified their holdings of the business. Azarias Capital Management L.P. increased its position in Hooker Furnishings by 33.6% during the 3rd quarter. Azarias Capital Management L.P. now owns 473,179 shares of the company’s stock worth $4,803,000 after purchasing an additional 118,989 shares in the last quarter. Peapod Lane Capital LLC raised its position in Hooker Furnishings by 70.5% during the 2nd quarter. Peapod Lane Capital LLC now owns 145,876 shares of the company’s stock worth $1,543,000 after purchasing an additional 60,304 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of Hooker Furnishings by 2.2% in the second 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. First Eagle Investment Management LLC lifted its position in shares of Hooker Furnishings by 35.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 317,414 shares of the company’s stock worth $3,358,000 after purchasing an additional 83,761 shares during the period. Finally, RBF Capital LLC acquired a new position in Hooker Furnishings in the second quarter valued at $2,807,000. Institutional investors and hedge funds own 73.60% of the company’s stock.

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.