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

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

Hooker Furnishings Trading Up 2.9 %

Shares of Hooker Furnishings stock opened at $8.49 on Friday. Hooker Furnishings has a fifty-two week low of $7.77 and a fifty-two week high of $19.79. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.76 and a current ratio of 3.16. The firm has a market capitalization of $90.93 million, a price-to-earnings ratio of -9.33, a PEG ratio of 0.85 and a beta of 1.23. The stock has a 50 day moving average of $11.60 and a 200 day moving average of $14.38.

Institutional Investors Weigh In On Hooker Furnishings

Hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC grew its holdings in Hooker Furnishings by 26.4% during the 3rd quarter. HighTower Advisors LLC now owns 19,004 shares of the company’s stock worth $344,000 after acquiring an additional 3,966 shares in the last quarter. Stifel Financial Corp raised its stake in 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 buying an additional 3,827 shares in the last quarter. State Street Corp increased its stake in Hooker Furnishings by 4.9% in the third quarter. State Street Corp now owns 172,370 shares of the company’s stock valued at $3,116,000 after purchasing an additional 8,117 shares during the last quarter. Barclays PLC boosted its stake in Hooker Furnishings by 270.4% in the third quarter. Barclays PLC now owns 15,463 shares of the company’s stock valued at $279,000 after acquiring an additional 11,288 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Hooker Furnishings by 1.0% in the third quarter. Geode Capital Management LLC now owns 241,310 shares of the company’s stock valued at $4,364,000 after acquiring an additional 2,493 shares during the period. 73.63% of the stock is currently owned by institutional investors and hedge funds.

About Hooker Furnishings

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.