StockNews.com Downgrades Hooker Furnishings (NASDAQ:HOFT) to Sell

Hooker Furnishings (NASDAQ:HOFT) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

Hooker Furnishings Stock Performance

Shares of Hooker Furnishings stock opened at $9.16 on Friday. Hooker Furnishings has a 12 month low of $8.03 and a 12 month high of $23.32. The company has a current ratio of 3.16, a quick ratio of 1.76 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $98.10 million, a PE ratio of -10.07, a PEG ratio of 0.85 and a beta of 1.16. The stock’s fifty day simple moving average is $12.22 and its 200 day simple moving average is $14.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC lifted its position in Hooker Furnishings by 26.4% in the 3rd quarter. HighTower Advisors LLC now owns 19,004 shares of the company’s stock valued at $344,000 after acquiring an additional 3,966 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Hooker Furnishings by 9.5% in the third quarter. Stifel Financial Corp now owns 44,003 shares of the company’s stock valued at $796,000 after purchasing an additional 3,827 shares in the last quarter. State Street Corp boosted its position in shares of Hooker Furnishings by 4.9% during the third quarter. State Street Corp now owns 172,370 shares of the company’s stock worth $3,116,000 after buying an additional 8,117 shares during the period. Barclays PLC grew its holdings in shares of Hooker Furnishings by 270.4% during the third quarter. Barclays PLC now owns 15,463 shares of the company’s stock worth $279,000 after buying an additional 11,288 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Hooker Furnishings by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 241,310 shares of the company’s stock valued at $4,364,000 after buying an additional 2,493 shares during the last quarter. Institutional investors and hedge funds own 73.63% of the company’s stock.

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.