Hooker Furnishings (NASDAQ:HOFT) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Hooker Furnishings (NASDAQ:HOFTGet Rating) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

Hooker Furnishings Stock Down 0.2 %

Shares of NASDAQ HOFT opened at $15.18 on Wednesday. Hooker Furnishings has a 52-week low of $14.92 and a 52-week high of $32.50. The business’s 50 day moving average is $16.31 and its two-hundred day moving average is $17.58. The firm has a market cap of $182.19 million, a price-to-earnings ratio of 33.78 and a beta of 0.89.

Hooker Furnishings (NASDAQ:HOFTGet Rating) last posted its quarterly earnings data on Thursday, June 9th. The company reported $0.26 earnings per share for the quarter. Hooker Furnishings had a return on equity of 2.06% and a net margin of 0.94%. The business had revenue of $147.31 million for the quarter.

Insider Transactions at Hooker Furnishings

In related news, Director Henry G. Williamson, Jr. acquired 4,225 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were acquired at an average price of $15.70 per share, with a total value of $66,332.50. Following the completion of the transaction, the director now owns 60,014 shares of the company’s stock, valued at $942,219.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Hooker Furnishings

A number of institutional investors and hedge funds have recently modified their holdings of the company. Pzena Investment Management LLC grew its stake in shares of Hooker Furnishings by 5.4% during the second quarter. Pzena Investment Management LLC now owns 1,487,787 shares of the company’s stock worth $23,135,000 after purchasing an additional 76,449 shares in the last quarter. Donald Smith & CO. Inc. acquired a new position in shares of Hooker Furnishings during the first quarter worth $22,134,000. Dimensional Fund Advisors LP boosted its stake in Hooker Furnishings by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 884,972 shares of the company’s stock valued at $16,762,000 after acquiring an additional 5,479 shares in the last quarter. Vanguard Group Inc. boosted its stake in Hooker Furnishings by 1.5% in the first quarter. Vanguard Group Inc. now owns 558,993 shares of the company’s stock valued at $10,588,000 after acquiring an additional 8,059 shares in the last quarter. Finally, Azarias Capital Management L.P. boosted its stake in Hooker Furnishings by 14.1% in the second quarter. Azarias Capital Management L.P. now owns 361,277 shares of the company’s stock valued at $5,618,000 after acquiring an additional 44,638 shares in the last quarter. Institutional investors and hedge funds own 76.51% of the company’s stock.

About Hooker Furnishings

(Get Rating)

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. The company's Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.

Further Reading

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