Hooker Furnishings (NASDAQ:HOFT) Shares Pass Above 200 Day Moving Average – Time to Sell?

Hooker Furnishings Corp. (NASDAQ:HOFT) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.51 and traded as high as $13.64. Hooker Furnishings shares last traded at $12.88, with a volume of 30,203 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Hooker Furnishings in a report on Thursday, January 22nd. Wall Street Zen raised shares of Hooker Furnishings from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Zacks Research raised Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Hooker Furnishings has a consensus rating of “Reduce”.

Hooker Furnishings Stock Performance

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 stock has a market capitalization of $145.21 million, a P/E ratio of -4.79, a PEG ratio of 1.05 and a beta of 1.34. The business has a 50-day moving average price of $13.50 and a 200 day moving average price of $11.52.

Hooker Furnishings Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, March 16th. Hooker Furnishings’s payout ratio is currently -16.37%.

Institutional Trading of Hooker Furnishings

A number of institutional investors and hedge funds have recently bought and sold shares of HOFT. Cerity Partners LLC purchased a new position in Hooker Furnishings in the fourth quarter worth about $117,000. Osaic Holdings Inc. grew its holdings in shares of Hooker Furnishings by 940.0% during the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock valued at $110,000 after buying an additional 9,400 shares during the last quarter. LPL Financial LLC increased its position in shares of Hooker Furnishings by 16.6% during the fourth quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock valued at $132,000 after acquiring an additional 1,660 shares in the last quarter. Strs Ohio purchased a new position in Hooker Furnishings in the 1st quarter worth approximately $124,000. Finally, Jane Street Group LLC purchased a new position in Hooker Furnishings in the 1st quarter worth approximately $146,000. 73.60% of the stock is currently 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.