Hooker Furnishings (NASDAQ:HOFT) Upgraded at StockNews.com

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

Hooker Furnishings Stock Down 0.9 %

Shares of NASDAQ HOFT opened at $11.50 on Tuesday. The stock has a market cap of $123.17 million, a PE ratio of -12.64, a price-to-earnings-growth ratio of 0.85 and a beta of 1.16. The company has a quick ratio of 1.76, a current ratio of 3.16 and a debt-to-equity ratio of 0.10. Hooker Furnishings has a 52-week low of $11.17 and a 52-week high of $24.18. The business has a 50-day moving average price of $12.88 and a 200 day moving average price of $15.30.

Institutional Trading of Hooker Furnishings

A number of hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its position in Hooker Furnishings by 0.5% during the 4th quarter. Northern Trust Corp now owns 170,582 shares of the company’s stock worth $2,390,000 after acquiring an additional 889 shares during the period. Wells Fargo & Company MN increased its position in Hooker Furnishings by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 6,227 shares of the company’s stock worth $87,000 after buying an additional 1,356 shares in the last quarter. Bridgeway Capital Management LLC increased its position in Hooker Furnishings by 1.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 129,987 shares of the company’s stock worth $1,821,000 after buying an additional 1,535 shares in the last quarter. Bank of America Corp DE increased 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 worth $224,000 after buying an additional 1,875 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Hooker Furnishings by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,531 shares of the company’s stock worth $442,000 after purchasing an additional 1,900 shares during the last quarter. 73.63% of the stock is owned by institutional investors and hedge funds.

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.