Hooker Furnishings (NASDAQ:HOFT) Stock Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Hooker Furnishings Corp. (NASDAQ:HOFT) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $13.64 and traded as high as $14.07. Hooker Furnishings shares last traded at $14.00, with a volume of 35,566 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HOFT. Zacks Research cut shares of Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Weiss Ratings cut Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, October 9th. Finally, Wall Street Zen cut Hooker Furnishings from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 20th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

Hooker Furnishings Stock Up 2.5%

The company has a 50 day simple moving average of $13.12 and a 200 day simple moving average of $13.65. The company has a market capitalization of $153.43 million, a price-to-earnings ratio of -8.49, a price-to-earnings-growth ratio of 1.89 and a beta of 1.10.

Hooker Furnishings Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a $0.1150 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.46 annualized dividend and a dividend yield of 3.2%. Hooker Furnishings’s payout ratio is -27.22%.

Hedge Funds Weigh In On Hooker Furnishings

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Wyoming acquired a new stake in shares of Hooker Furnishings during the 2nd quarter valued at approximately $73,000. PDT Partners LLC bought a new position in Hooker Furnishings during the second quarter worth $330,000. Royal Bank of Canada boosted its holdings in Hooker Furnishings by 6.0% in the first quarter. Royal Bank of Canada now owns 21,383 shares of the company’s stock worth $276,000 after purchasing an additional 1,218 shares during the period. Baron Wealth Management LLC boosted its holdings in Hooker Furnishings by 38.3% in the second quarter. Baron Wealth Management LLC now owns 22,960 shares of the company’s stock worth $409,000 after purchasing an additional 6,364 shares during the period. Finally, Marquette Asset Management LLC bought a new stake in Hooker Furnishings during the second quarter valued at $477,000. 73.60% of the stock is currently owned by hedge funds and other institutional investors.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation is a home furnishings company that designs, manufactures, imports and markets residential furniture. Its product offerings include bedroom, dining room, living room, home office and occasional furniture, along with upholstered seating and outdoor furnishings.

The company markets products under brands that include Hooker Furniture, Home Meridian, Sam Moore, Sunset West and BOOMER. Its portfolio spans casegoods, motion and stationary upholstery, leather furniture, outdoor furniture and other home décor products.