Hooker Furnishings (NASDAQ:HOFT) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Hooker Furnishings Corp. (NASDAQ:HOFT) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.34 and traded as high as $13.17. Hooker Furnishings shares last traded at $12.77, with a volume of 99,145 shares traded.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Zacks Research raised Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hooker Furnishings in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded Hooker Furnishings from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. 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 data from MarketBeat, Hooker Furnishings presently has an average rating of “Reduce”.

Hooker Furnishings Stock Performance

The company has a current ratio of 2.67, a quick ratio of 1.35 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $13.45 and its 200 day moving average is $11.34. The stock has a market capitalization of $137.66 million, a PE ratio of -4.54, a PEG ratio of 1.06 and a beta of 1.35.

Hooker Furnishings (NASDAQ:HOFT) last posted its quarterly earnings data 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. The company had revenue of $70.73 million for the quarter, compared to analyst estimates 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, equities research analysts predict that Hooker Furnishings Corp. will post -0.44 earnings per share for the current fiscal year.

Hooker Furnishings Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.6%. Hooker Furnishings’s dividend payout ratio is currently -16.37%.

Hedge Funds Weigh In On Hooker Furnishings

Large investors have recently bought and sold shares of the business. Pzena Investment Management LLC grew its position in Hooker Furnishings by 4.2% in the 3rd quarter. Pzena Investment Management LLC now owns 1,416,002 shares of the company’s stock valued at $14,372,000 after acquiring an additional 57,276 shares during the last quarter. Donald Smith & CO. Inc. lifted its position in shares of Hooker Furnishings by 7.1% during the fourth 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 last quarter. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 4,138 shares during the period. Azarias Capital Management L.P. boosted its stake in shares of Hooker Furnishings by 33.6% during the third quarter. Azarias Capital Management L.P. now owns 473,179 shares of the company’s stock valued at $4,803,000 after purchasing an additional 118,989 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Hooker Furnishings by 35.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 366,761 shares of the company’s stock worth $4,141,000 after purchasing an additional 95,127 shares during the last quarter. Hedge funds and other institutional investors 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.