Hooker Furnishings (NASDAQ:HOFT) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Hooker Furnishings Corp. (NASDAQ:HOFT)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $11.13 and traded as high as $14.67. Hooker Furnishings shares last traded at $14.34, with a volume of 28,707 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Hooker Furnishings in a research report on Thursday, January 22nd. Wall Street Zen upgraded Hooker Furnishings from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Zacks Research cut Hooker Furnishings from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Hooker Furnishings Stock Up 0.4%

The business has a fifty day moving average of $13.07 and a 200 day moving average of $11.13. The company has a quick ratio of 1.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.02. The firm has a market cap of $154.59 million, a P/E ratio of -5.10, a P/E/G ratio of 1.16 and a beta of 1.39.

Hooker Furnishings (NASDAQ:HOFT) last posted its earnings results 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 analyst estimates 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 predict that Hooker Furnishings Corp. will post -0.44 EPS for the current year.

Hooker Furnishings Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Sunday, December 21st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, December 19th. Hooker Furnishings’s dividend payout ratio is presently -16.37%.

Hedge Funds Weigh In On Hooker Furnishings

A number of hedge funds and other institutional investors have recently made changes to their positions in HOFT. Gate City Capital Management LLC acquired a new position in shares of Hooker Furnishings in the 4th quarter valued at $2,472,000. Charles Schwab Investment Management Inc. grew its stake in Hooker Furnishings by 35.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 366,761 shares of the company’s stock valued at $4,141,000 after acquiring an additional 95,127 shares during the period. Donald Smith & CO. Inc. boosted its stake in Hooker Furnishings by 7.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,066,754 shares of the company’s stock worth $12,044,000 after purchasing an additional 70,681 shares during the period. Cerity Partners LLC bought a new position in Hooker Furnishings during the 4th quarter worth about $117,000. Finally, LPL Financial LLC raised its stake in shares of Hooker Furnishings by 16.6% in the 4th 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 during the period. 73.60% of the stock is 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.