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

Wall Street Zen upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a sell rating to a hold rating in a research note released on Sunday.

A number of other research analysts also recently commented on HOFT. Zacks Research raised Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Hooker Furnishings in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Hooker Furnishings Price Performance

Hooker Furnishings stock opened at $13.19 on Friday. The stock’s fifty day moving average price is $13.45 and its two-hundred day moving average price is $11.85. Hooker Furnishings has a one year low of $8.46 and a one year high of $15.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.37 and a quick ratio of 1.35. The firm has a market cap of $142.19 million, a PE ratio of -5.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34.

Hooker Furnishings (NASDAQ:HOFT) last released its earnings results on Thursday, April 16th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $66.98 million during the quarter, compared to the consensus estimate of $74.89 million. Hooker Furnishings had a negative return on equity of 0.71% and a negative net margin of 8.84%. As a group, research analysts expect that Hooker Furnishings will post 0.7 EPS for the current fiscal year.

Hooker Furnishings Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, March 16th. Hooker Furnishings’s dividend payout ratio (DPR) is currently -18.11%.

Hedge Funds Weigh In On Hooker Furnishings

Institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. lifted its position in shares of Hooker Furnishings by 940.0% during the 2nd quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock worth $110,000 after buying an additional 9,400 shares during the last quarter. Cerity Partners LLC bought a new position in Hooker Furnishings in the fourth quarter valued at about $117,000. Strs Ohio bought a new position in Hooker Furnishings in the first quarter valued at about $124,000. LPL Financial LLC raised its stake in Hooker Furnishings by 16.6% during the fourth quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock worth $132,000 after acquiring an additional 1,660 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Hooker Furnishings during the first quarter worth about $146,000. Institutional investors and hedge funds 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.