Hooker Furnishings (NASDAQ:HOFT) Stock Rating Upgraded by Wall Street Zen

Hooker Furnishings (NASDAQ:HOFT) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Several other equities research analysts have also weighed in on the stock. Weiss Ratings lowered shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Zacks Research lowered Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

Hooker Furnishings Price Performance

HOFT stock opened at $14.12 on Friday. Hooker Furnishings has a 1-year low of $8.61 and a 1-year high of $18.09. The firm has a fifty day moving average price of $14.46 and a two-hundred day moving average price of $13.60. The firm has a market cap of $151.65 million, a price-to-earnings ratio of -6.57, a PEG ratio of 1.31 and a beta of 1.11.

Hooker Furnishings (NASDAQ:HOFT) last posted its quarterly earnings results on Thursday, June 11th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.17. Hooker Furnishings had a negative net margin of 7.90% and a positive return on equity of 1.61%. The company had revenue of $69.45 million for the quarter, compared to the consensus estimate of $66.31 million. As a group, analysts expect that Hooker Furnishings will post 0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Hooker Furnishings

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cerity Partners LLC bought a new position in shares of Hooker Furnishings in the fourth quarter worth $117,000. Osaic Holdings Inc. lifted its holdings in Hooker Furnishings by 940.0% in the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock worth $110,000 after purchasing an additional 9,400 shares during the period. LPL Financial LLC grew its position in Hooker Furnishings by 16.6% in the 4th quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock valued at $132,000 after buying an additional 1,660 shares in the last quarter. Strs Ohio bought a new position in Hooker Furnishings in the 1st quarter valued at about $124,000. Finally, Jane Street Group LLC acquired a new position in Hooker Furnishings during the 1st quarter valued at about $146,000. 73.60% of the stock is owned by institutional investors.

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.