Hooker Furnishings (NASDAQ:HOFT) Stock Rating Upgraded by StockNews.com

Hooker Furnishings (NASDAQ:HOFT) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Hooker Furnishings Trading Down 0.8 %

Shares of HOFT stock opened at $12.95 on Thursday. The stock has a market capitalization of $138.69 million, a price-to-earnings ratio of -14.23, a PEG ratio of 0.85 and a beta of 1.25. The company’s fifty day simple moving average is $13.51 and its two-hundred day simple moving average is $15.61. Hooker Furnishings has a 1 year low of $12.06 and a 1 year high of $24.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.76.

Hooker Furnishings (NASDAQ:HOFT) last released its quarterly earnings data on Thursday, December 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.22). Hooker Furnishings had a negative net margin of 2.46% and a negative return on equity of 3.51%. As a group, analysts anticipate that Hooker Furnishings will post -0.44 earnings per share for the current year.

Insider Activity at Hooker Furnishings

In related news, Director Paulette Garafalo sold 2,489 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $17.10, for a total value of $42,561.90. Following the sale, the director now owns 20,783 shares in the company, valued at approximately $355,389.30. This trade represents a 10.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hooker Furnishings

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deutsche Bank AG boosted its position in shares of Hooker Furnishings by 97.5% during the 4th quarter. Deutsche Bank AG now owns 14,494 shares of the company’s stock valued at $203,000 after acquiring an additional 7,157 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in Hooker Furnishings by 1.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 129,987 shares of the company’s stock valued at $1,821,000 after purchasing an additional 1,535 shares in the last quarter. Bank of America Corp DE lifted its position in Hooker Furnishings by 13.3% during the fourth quarter. Bank of America Corp DE now owns 16,008 shares of the company’s stock valued at $224,000 after purchasing an additional 1,875 shares during the last quarter. 4WEALTH Advisors Inc. bought a new stake in Hooker Furnishings during the fourth quarter valued at approximately $222,000. Finally, Northern Trust Corp grew its stake in Hooker Furnishings by 0.5% in the 4th quarter. Northern Trust Corp now owns 170,582 shares of the company’s stock worth $2,390,000 after buying an additional 889 shares in the last quarter. 73.63% of the stock is currently owned by hedge funds and other institutional investors.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The 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.