Hooker Furnishings (NASDAQ:HOFT) Share Price Breaks Above 200 Day Moving Average – Should You Sell?

Hooker Furnishings Corp. (NASDAQ:HOFT)’s share price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $13.64 and traded as high as $14.07. Hooker Furnishings shares last traded at $14.00, with a volume of 35,566 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on HOFT shares. Wall Street Zen cut Hooker Furnishings from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 20th. Weiss Ratings lowered shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, October 9th. Finally, Zacks Research lowered shares of Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

Hooker Furnishings Stock Up 3.9%

The company has a market cap of $149.66 million, a P/E ratio of -8.28, a PEG ratio of 1.82 and a beta of 1.10. The firm’s 50 day moving average is $13.12 and its two-hundred day moving average is $13.64.

Hooker Furnishings Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a dividend of $0.1150 per share. This represents a $0.46 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 15th. Hooker Furnishings’s dividend payout ratio (DPR) is currently -27.22%.

Institutional Investors Weigh In On Hooker Furnishings

A number of institutional investors have recently made changes to their positions in the stock. Susquehanna International Group LLP increased its stake in shares of Hooker Furnishings by 25.4% in the second quarter. Susquehanna International Group LLP now owns 63,741 shares of the company’s stock valued at $1,137,000 after buying an additional 12,919 shares during the period. Empowered Funds LLC bought a new position in shares of Hooker Furnishings during the second quarter worth about $555,000. Ancora Advisors LLC bought a new position in shares of Hooker Furnishings during the second quarter worth about $1,501,000. PDT Partners LLC bought a new position in shares of Hooker Furnishings during the second quarter worth about $330,000. Finally, Donald Smith & CO. Inc. acquired a new position in shares of Hooker Furnishings in the second quarter worth approximately $16,982,000. Institutional investors own 73.60% of the company’s stock.

About Hooker Furnishings

Hooker Furnishings Corporation is a home furnishings company that designs, manufactures, imports and markets residential furniture. Its product offerings include bedroom, dining room, living room, home office and occasional furniture, along with upholstered seating and outdoor furnishings.

The company markets products under brands that include Hooker Furniture, Home Meridian, Sam Moore, Sunset West and BOOMER. Its portfolio spans casegoods, motion and stationary upholstery, leather furniture, outdoor furniture and other home décor products.