Hooker Furnishings (NASDAQ:HOFT) Upgraded at Zacks Research

Hooker Furnishings (NASDAQ:HOFT) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also commented on the company. Wall Street Zen raised Hooker Furnishings from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings lowered Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Hooker Furnishings Stock Down 5.2%

Shares of NASDAQ:HOFT opened at $15.21 on Monday. The business has a fifty day moving average of $13.16 and a two-hundred day moving average of $12.78. The stock has a market cap of $163.36 million, a P/E ratio of -7.07, a PEG ratio of 1.47 and a beta of 1.19. Hooker Furnishings has a 52-week low of $8.61 and a 52-week high of $16.41.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings results on Thursday, June 11th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.17. Hooker Furnishings had a positive return on equity of 1.61% and a negative net margin of 7.90%.The business had revenue of $69.45 million for the quarter, compared to analyst estimates of $66.31 million. On average, equities analysts anticipate that Hooker Furnishings will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On Hooker Furnishings

Institutional investors and hedge funds have recently modified their holdings of the company. Pzena Investment Management LLC increased its holdings in Hooker Furnishings by 4.2% during the 3rd quarter. Pzena Investment Management LLC now owns 1,416,002 shares of the company’s stock worth $14,372,000 after purchasing an additional 57,276 shares during the period. Donald Smith & CO. Inc. increased its holdings in Hooker Furnishings by 7.1% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,066,754 shares of the company’s stock worth $12,044,000 after purchasing an additional 70,681 shares during the period. Vanguard Group Inc. increased its holdings in Hooker Furnishings by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 595,587 shares of the company’s stock worth $6,045,000 after purchasing an additional 4,138 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Hooker Furnishings by 35.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 366,761 shares of the company’s stock worth $4,141,000 after purchasing an additional 95,127 shares during the period. Finally, First Eagle Investment Management LLC increased its holdings in Hooker Furnishings by 15.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 364,973 shares of the company’s stock worth $3,704,000 after purchasing an additional 47,559 shares during the period. Hedge funds and other institutional investors own 73.60% of the company’s stock.

Hooker Furnishings Company Profile

Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.

The company’s operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.