Zacks Research Upgrades Hooker Furnishings (NASDAQ:HOFT) to Hold

Hooker Furnishings (NASDAQ:HOFT) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other analysts also recently issued reports on HOFT. Wall Street Zen raised shares of Hooker Furnishings from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings restated a “sell (d)” rating on shares of Hooker Furnishings in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

Hooker Furnishings Price Performance

HOFT opened at $13.53 on Tuesday. The stock has a market capitalization of $145.85 million, a PE ratio of -4.81, a P/E/G ratio of 1.09 and a beta of 1.35. The company’s 50 day simple moving average is $13.23 and its 200 day simple moving average is $11.22. Hooker Furnishings has a 1 year low of $7.34 and a 1 year high of $15.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.35 and a current ratio of 2.67.

Hooker Furnishings (NASDAQ:HOFT) last released its quarterly earnings data on Thursday, December 11th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.54. The business had revenue of $70.73 million during the quarter, compared to the consensus estimate of $85.50 million. Hooker Furnishings had a negative return on equity of 1.07% and a negative net margin of 8.71%. As a group, sell-side analysts expect that Hooker Furnishings will post -0.44 EPS for the current year.

Institutional Investors Weigh In On Hooker Furnishings

A number of institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. bought a new position in Hooker Furnishings during the second quarter worth $3,619,000. RBF Capital LLC bought a new position in shares of Hooker Furnishings in the 2nd quarter worth about $2,807,000. Gate City Capital Management LLC acquired a new position in shares of Hooker Furnishings in the 4th quarter valued at about $2,472,000. Azarias Capital Management L.P. grew its position in shares of Hooker Furnishings by 33.6% during the 3rd quarter. Azarias Capital Management L.P. now owns 473,179 shares of the company’s stock valued at $4,803,000 after buying an additional 118,989 shares during the last quarter. Finally, CSM Advisors LLC acquired a new stake in Hooker Furnishings during the second quarter worth about $1,169,000. 73.60% of the stock is currently owned by institutional investors.

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.