Hooker Furnishings (NASDAQ:HOFT) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

by · The Cerbat Gem

Hooker Furnishings Corp. (NASDAQ:HOFT – Get Free Report)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.29 and traded as high as $13.53. Hooker Furnishings shares last traded at $13.05, with a volume of 31,851 shares.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Hooker Furnishings from a “sell” rating to a “hold” rating in a report on Sunday, April 19th. Zacks Research upgraded shares of Hooker Furnishings from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Weiss Ratings lowered shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Hooker Furnishings has an average rating of “Reduce”.

Check Out Our Latest Stock Analysis on Hooker Furnishings

Hooker Furnishings Price Performance

The business’s 50 day moving average is $12.84 and its two-hundred day moving average is $12.34. The firm has a market cap of $136.91 million, a P/E ratio of -5.00, a P/E/G ratio of 1.32 and a beta of 1.22. The company has a quick ratio of 1.60, a current ratio of 3.37 and a debt-to-equity ratio of 0.02.

Hooker Furnishings (NASDAQ:HOFT – Get Free Report) last announced its earnings results on Thursday, April 16th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Hooker Furnishings had a negative net margin of 8.84% and a negative return on equity of 0.71%. The business had revenue of $66.98 million during the quarter, compared to the consensus estimate of $74.89 million. As a group, analysts anticipate that Hooker Furnishings Corp. will post 0.67 earnings per share for the current year.

Hooker Furnishings Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, March 16th. Hooker Furnishings’s dividend payout ratio is -18.11%.

Hedge Funds Weigh In On Hooker Furnishings

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in shares of Hooker Furnishings by 6.0% during the 1st quarter. Royal Bank of Canada now owns 21,383 shares of the company’s stock worth $276,000 after purchasing an additional 1,218 shares in the last quarter. Empowered Funds LLC increased its position in shares of Hooker Furnishings by 10.6% during the first quarter. Empowered Funds LLC now owns 28,696 shares of the company’s stock worth $370,000 after acquiring an additional 2,747 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Hooker Furnishings during the first quarter worth about $665,000. Gate City Capital Management LLC purchased a new stake in shares of Hooker Furnishings in the fourth quarter worth approximately $2,472,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Hooker Furnishings by 35.0% in the fourth 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 last quarter. Institutional investors own 73.60% of the company’s stock.

About Hooker Furnishings

(Get Free Report)

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.

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