Hooker Furnishings (NASDAQ:HOFT) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Hooker Furnishings (NASDAQ:HOFT) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

A number of other brokerages have also recently commented on HOFT. Weiss Ratings cut shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday. Wall Street Zen upgraded shares of Hooker Furnishings from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Hooker Furnishings Price Performance

Shares of Hooker Furnishings stock opened at $14.20 on Tuesday. The firm’s fifty day simple moving average is $14.44 and its 200-day simple moving average is $13.57. The stock has a market capitalization of $152.51 million, a price-to-earnings ratio of -6.60, a PEG ratio of 1.38 and a beta of 1.11. Hooker Furnishings has a 12 month low of $8.61 and a 12 month high of $18.09.

Hooker Furnishings (NASDAQ:HOFT) last released its quarterly earnings results on Thursday, June 11th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.17. Hooker Furnishings had a negative net margin of 7.90% and a positive return on equity of 1.61%. The firm had revenue of $69.45 million during the quarter, compared to the consensus estimate of $66.31 million. Analysts anticipate that Hooker Furnishings will post 0.77 earnings per share for the current year.

Hooker Furnishings Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 19th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $0.46 annualized dividend and a dividend yield of 3.2%. Hooker Furnishings’s dividend payout ratio (DPR) is currently -21.40%.

Hedge Funds Weigh In On Hooker Furnishings

Several institutional investors have recently bought and sold shares of HOFT. Donald Smith & CO. Inc. raised its position in Hooker Furnishings by 7.1% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,066,754 shares of the company’s stock worth $12,044,000 after buying an additional 70,681 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Hooker Furnishings by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 595,587 shares of the company’s stock worth $6,045,000 after acquiring an additional 4,138 shares during the period. Charles Schwab Investment Management Inc. boosted 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 valued at $4,141,000 after acquiring an additional 95,127 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Hooker Furnishings in the second quarter valued at about $3,619,000. Finally, Gate City Capital Management LLC acquired a new position in shares of Hooker Furnishings during the fourth quarter worth about $2,472,000. 73.60% of the stock is owned by institutional investors and hedge funds.

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.