Hooker Furnishings (NASDAQ:HOFT) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a strong sell rating to a hold rating in a report released on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hooker Furnishings in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Hooker Furnishings from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

Hooker Furnishings Trading Up 2.2%

NASDAQ:HOFT traded up $0.30 on Tuesday, reaching $13.83. The company’s stock had a trading volume of 23,178 shares, compared to its average volume of 34,783. Hooker Furnishings has a 1-year low of $7.34 and a 1-year high of $15.99. 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 firm has a market cap of $149.09 million, a PE ratio of -4.92, a PEG ratio of 1.09 and a beta of 1.35. The business’s 50-day moving average price is $13.23 and its two-hundred day moving average price is $11.22.

Hooker Furnishings (NASDAQ:HOFT) last released its quarterly earnings results on Thursday, December 11th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.54. Hooker Furnishings had a negative return on equity of 1.07% and a negative net margin of 8.71%.The company had revenue of $70.73 million for the quarter, compared to analyst estimates of $85.50 million. Equities research analysts anticipate that Hooker Furnishings will post -0.44 earnings per share for the current fiscal year.

Hooker Furnishings Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Sunday, December 21st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, December 19th. Hooker Furnishings’s payout ratio is presently -16.37%.

Hedge Funds Weigh In On Hooker Furnishings

Large investors have recently modified their holdings of the business. First Eagle Investment Management LLC raised its stake in shares of Hooker Furnishings by 35.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 317,414 shares of the company’s stock worth $3,358,000 after purchasing an additional 83,761 shares in the last quarter. Azarias Capital Management L.P. increased its holdings in Hooker Furnishings by 33.6% during the third quarter. Azarias Capital Management L.P. now owns 473,179 shares of the company’s stock worth $4,803,000 after buying an additional 118,989 shares during the last quarter. RBF Capital LLC bought a new stake in Hooker Furnishings during the second quarter worth $2,807,000. CSM Advisors LLC acquired a new stake in Hooker Furnishings in the second quarter valued at $1,169,000. Finally, Truffle Hound Capital LLC acquired a new stake in Hooker Furnishings in the second quarter valued at $624,000. 73.60% of the stock is currently 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.