Hooker Furnishings (NASDAQ:HOFT) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Hooker Furnishings (NASDAQ:HOFT) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday,Wall Street Zen reports.

HOFT has been the topic of a number of other reports. Zacks Research downgraded shares of Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Weiss Ratings downgraded shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Hooker Furnishings Trading Down 1.5%

Shares of NASDAQ HOFT opened at $13.24 on Friday. Hooker Furnishings has a 12 month low of $8.61 and a 12 month high of $18.09. The company has a 50 day simple moving average of $13.88 and a two-hundred day simple moving average of $13.76. The stock has a market cap of $141.54 million, a price-to-earnings ratio of -7.83, a PEG ratio of 0.97 and a beta of 1.14.

Hooker Furnishings Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 15th. Hooker Furnishings’s dividend payout ratio is -27.22%.

Institutional Investors Weigh In On Hooker Furnishings

Several institutional investors have recently bought and sold shares of HOFT. State of Wyoming purchased a new position in shares of Hooker Furnishings during the 2nd quarter worth $73,000. Royal Bank of Canada raised its holdings in Hooker Furnishings by 6.0% in the 1st quarter. Royal Bank of Canada now owns 21,383 shares of the company’s stock valued at $276,000 after buying an additional 1,218 shares during the period. PDT Partners LLC purchased a new stake in shares of Hooker Furnishings in the 2nd quarter valued at approximately $330,000. Empowered Funds LLC lifted its holdings in shares of Hooker Furnishings by 10.6% in the 1st quarter. Empowered Funds LLC now owns 28,696 shares of the company’s stock worth $370,000 after acquiring an additional 2,747 shares during the last quarter. Finally, Baron Wealth Management LLC boosted its position in shares of Hooker Furnishings by 38.3% during the 2nd quarter. Baron Wealth Management LLC now owns 22,960 shares of the company’s stock worth $409,000 after purchasing an additional 6,364 shares during the period. 73.60% of the stock is currently owned by institutional investors and hedge funds.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation is a residential and hospitality furniture company headquartered in Martinsville, Virginia. Founded in 1924, the company designs, sources, manufactures and markets furniture and home furnishings for a range of interior styles and customer needs.

Its product offerings include wood and upholstered furniture for living rooms, bedrooms, dining rooms, home offices and outdoor spaces. The company markets products under brands that include Hooker Furniture, Sam Moore, Sunset West and other portfolio brands, serving both the residential and hospitality markets.

Hooker Furnishings sells its products through independent furniture retailers, specialty stores, interior designers, hospitality businesses and e-commerce channels.