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

StockNews.com downgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a hold rating to a sell rating in a research note published on Sunday morning.

Hooker Furnishings Stock Up 14.8 %

Shares of NASDAQ HOFT opened at $8.69 on Friday. The firm has a market cap of $93.07 million, a P/E ratio of -9.55, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.76 and a current ratio of 3.16. Hooker Furnishings has a 1 year low of $7.34 and a 1 year high of $19.79. The firm’s 50 day moving average price is $11.11 and its 200 day moving average price is $14.06.

Hooker Furnishings (NASDAQ:HOFT) last posted its quarterly earnings data on Thursday, April 17th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.15). The business had revenue of $104.46 million for the quarter, compared to analyst estimates of $101.25 million. Hooker Furnishings had a negative return on equity of 3.51% and a negative net margin of 2.46%. During the same quarter last year, the business earned $0.06 EPS. As a group, sell-side analysts anticipate that Hooker Furnishings will post -0.44 earnings per share for the current year.

Hooker Furnishings Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.23 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.92 annualized dividend and a dividend yield of 10.59%. Hooker Furnishings’s dividend payout ratio is presently -101.10%.

Hedge Funds Weigh In On Hooker Furnishings

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Hooker Furnishings by 225.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company’s stock valued at $43,000 after purchasing an additional 2,130 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Hooker Furnishings by 9,630.8% in the first quarter. GAMMA Investing LLC now owns 5,060 shares of the company’s stock valued at $504,000 after acquiring an additional 5,008 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Hooker Furnishings by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 6,227 shares of the company’s stock valued at $87,000 after acquiring an additional 1,356 shares during the last quarter. Oak Hill Wealth Advisors LLC acquired a new stake in Hooker Furnishings during the fourth quarter worth about $145,000. Finally, Deutsche Bank AG raised its holdings in shares of Hooker Furnishings by 97.5% in the 4th quarter. Deutsche Bank AG now owns 14,494 shares of the company’s stock worth $203,000 after purchasing an additional 7,157 shares during the period. 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.