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

Wall Street Zen upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a buy rating to a strong-buy rating in a report issued on Saturday,Wall Street Zen reports.

A number of other research firms have also recently weighed in on HOFT. Zacks Research cut Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Weiss Ratings cut shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. One research 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 has a consensus rating of “Reduce”.

Hooker Furnishings Stock Up 8.7%

NASDAQ:HOFT opened at $13.94 on Friday. Hooker Furnishings has a 12-month low of $8.61 and a 12-month high of $18.09. The firm has a market capitalization of $149.72 million, a price-to-earnings ratio of -8.25, a P/E/G ratio of 1.19 and a beta of 1.14. The stock’s 50 day moving average price is $14.10 and its two-hundred day moving average price is $13.79.

Hooker Furnishings Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.115 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.3%. Hooker Furnishings’s dividend payout ratio (DPR) is -21.40%.

Institutional Trading of Hooker Furnishings

Institutional investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC acquired a new stake in shares of Hooker Furnishings during the second quarter worth $27,505,000. BlackRock Inc. bought a new stake in shares of Hooker Furnishings in the second quarter valued at about $4,156,000. Donald Smith & CO. Inc. acquired a new position in shares of Hooker Furnishings in the second quarter valued at about $16,982,000. Ancora Advisors LLC acquired a new position in shares of Hooker Furnishings in the second quarter valued at about $1,501,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in Hooker Furnishings during the first quarter worth about $665,000. 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.