Hooker Furnishings (NASDAQ:HOFT) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Hooker Furnishings Corp. (NASDAQ:HOFT) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.54 and traded as high as $13.85. Hooker Furnishings shares last traded at $13.55, with a volume of 45,882 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Zacks Research upgraded Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 25th. Weiss Ratings restated 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 assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

Hooker Furnishings Stock Up 2.1%

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 firm’s fifty day simple moving average is $11.63 and its 200 day simple moving average is $10.54. The stock has a market capitalization of $146.07 million, a price-to-earnings ratio of -4.82 and a beta of 1.39.

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. The company had revenue of $70.73 million during the quarter, compared to the consensus estimate of $85.50 million. Hooker Furnishings had a negative net margin of 8.71% and a negative return on equity of 1.07%. On average, sell-side analysts forecast that Hooker Furnishings Corp. will post -0.44 earnings per share for the current year.

Hooker Furnishings Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Sunday, December 21st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Friday, December 19th. Hooker Furnishings’s payout ratio is -16.37%.

Institutional Investors Weigh In On Hooker Furnishings

A number of hedge funds and other institutional investors have recently bought and sold shares of HOFT. Empowered Funds LLC boosted its position in Hooker Furnishings by 7.2% during the 1st quarter. Empowered Funds LLC now owns 55,319 shares of the company’s stock worth $555,000 after acquiring an additional 3,696 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Hooker Furnishings in the first quarter worth $146,000. Strs Ohio acquired a new position in Hooker Furnishings during the first quarter worth $124,000. Pzena Investment Management LLC grew its position in Hooker Furnishings by 2.2% in the second quarter. Pzena Investment Management LLC now owns 1,358,726 shares of the company’s stock valued at $14,375,000 after purchasing an additional 29,615 shares in the last quarter. Finally, Peapod Lane Capital LLC increased its stake in Hooker Furnishings by 70.5% in the 2nd quarter. Peapod Lane Capital LLC now owns 145,876 shares of the company’s stock valued at $1,543,000 after buying an additional 60,304 shares during the last quarter. Institutional investors and hedge funds own 73.60% of the company’s stock.

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.