Hooker Furnishings (NASDAQ:HOFT) Upgraded to Hold at Wall Street Zen

Hooker Furnishings (NASDAQ:HOFT) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

HOFT has been the subject of several other reports. Zacks Research lowered Hooker Furnishings from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hooker Furnishings in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Hooker Furnishings Stock Performance

Shares of HOFT stock opened at $15.05 on Friday. Hooker Furnishings has a one year low of $7.34 and a one year high of $15.99. The stock has a 50-day moving average of $12.32 and a 200-day moving average of $10.79. The stock has a market cap of $162.21 million, a PE ratio of -5.36, a price-to-earnings-growth ratio of 1.20 and a beta of 1.39. 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 (NASDAQ:HOFT) last posted its earnings results on Thursday, December 11th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.54. Hooker Furnishings had a negative return on equity of 1.07% and a negative net margin of 8.71%.The business had revenue of $70.73 million for the quarter, compared to analyst estimates of $85.50 million. As a group, sell-side analysts expect that Hooker Furnishings will post -0.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HOFT. Geode Capital Management LLC lifted its position in shares of Hooker Furnishings by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 120,645 shares of the company’s stock worth $1,363,000 after purchasing an additional 1,100 shares during the period. 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 worth $132,000 after purchasing an additional 1,660 shares during the last quarter. Atlantic Union Bankshares Corp grew its stake in shares of Hooker Furnishings by 22.0% in the third quarter. Atlantic Union Bankshares Corp now owns 15,860 shares of the company’s stock worth $161,000 after acquiring an additional 2,860 shares during the period. Empowered Funds LLC raised its stake in Hooker Furnishings by 7.2% during the 1st quarter. Empowered Funds LLC now owns 55,319 shares of the company’s stock valued at $555,000 after buying an additional 3,696 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Hooker Furnishings by 0.7% during the third quarter. Vanguard Group Inc. now owns 595,587 shares of the company’s stock valued at $6,045,000 after acquiring an additional 4,138 shares during the last quarter. Institutional investors 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.