Wall Street Zen Upgrades Hooker Furnishings (NASDAQ:HOFT) to “Hold”

by · The Markets Daily

Hooker Furnishings (NASDAQ:HOFT – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also weighed in on the company. Zacks Research lowered Hooker Furnishings from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Hooker Furnishings in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, Hooker Furnishings presently has a consensus rating of “Sell”.

View Our Latest Report on Hooker Furnishings

Hooker Furnishings Trading Up 2.1%

Shares of HOFT stock opened at $15.05 on Friday. The company has a market cap of $162.24 million, a price-to-earnings ratio of -5.36, a PEG ratio of 1.22 and a beta of 1.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.67 and a quick ratio of 1.35. The firm has a fifty day moving average price of $12.32 and a 200-day moving average price of $10.80. Hooker Furnishings has a 1 year low of $7.34 and a 1 year high of $15.99.

Hooker Furnishings (NASDAQ:HOFT – Get Free Report) last issued its quarterly earnings results on Thursday, December 11th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.54. The business had revenue of $70.73 million for the quarter, compared to the consensus estimate of $85.50 million. Hooker Furnishings had a negative net margin of 8.71% and a negative return on equity of 1.07%. As a group, equities analysts predict that Hooker Furnishings will post -0.44 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Hooker Furnishings by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 120,645 shares of the company’s stock worth $1,363,000 after buying an additional 1,100 shares during the period. LPL Financial LLC raised its holdings in shares of Hooker Furnishings by 16.6% in 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. Atlantic Union Bankshares Corp lifted its stake in Hooker Furnishings by 22.0% in the third quarter. Atlantic Union Bankshares Corp now owns 15,860 shares of the company’s stock worth $161,000 after acquiring an additional 2,860 shares during the period. Empowered Funds LLC grew its holdings in Hooker Furnishings by 7.2% during the 1st quarter. Empowered Funds LLC now owns 55,319 shares of the company’s stock worth $555,000 after acquiring an additional 3,696 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Hooker Furnishings by 0.7% during the 3rd 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. 73.60% of the stock is currently owned by hedge funds and other institutional investors.

Hooker Furnishings Company Profile

(Get Free Report)

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.

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