Hooker Furnishings (NASDAQ:HOFT) Shares Pass Above 200-Day Moving Average – Here’s Why
by Doug Wharley · The Cerbat GemHooker Furnishings Corp. (NASDAQ:HOFT – Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.09 and traded as high as $13.52. Hooker Furnishings shares last traded at $13.31, with a volume of 22,490 shares.
Analysts Set New Price Targets
A number of brokerages have issued reports on HOFT. Wall Street Zen raised Hooker Furnishings from a “sell” rating to a “hold” rating in a report on Sunday, April 19th. Zacks Research raised Hooker Furnishings from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hooker Furnishings in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.
Read Our Latest Research Report on HOFT
Hooker Furnishings Price Performance
The stock has a 50-day moving average price of $13.01 and a 200 day moving average price of $12.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.37 and a quick ratio of 1.60. The firm has a market cap of $143.48 million, a price-to-earnings ratio of -5.24, a PEG ratio of 1.42 and a beta of 1.22.
Hooker Furnishings (NASDAQ:HOFT – Get Free Report) last posted its earnings results on Thursday, April 16th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $66.98 million for the quarter, compared to analysts’ expectations of $74.89 million. Hooker Furnishings had a negative return on equity of 0.71% and a negative net margin of 8.84%. As a group, equities research analysts forecast that Hooker Furnishings Corp. will post 0.67 earnings per share for the current fiscal year.
Hooker Furnishings Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were given a dividend of $0.115 per share. The ex-dividend date was Monday, March 16th. This represents a $0.46 annualized dividend and a yield of 3.5%. Hooker Furnishings’s payout ratio is presently -18.11%.
Hedge Funds Weigh In On Hooker Furnishings
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC increased its position 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. Pzena Investment Management LLC increased its position 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. GSA Capital Partners LLP increased its position in Hooker Furnishings by 40.0% during the 3rd quarter. GSA Capital Partners LLP now owns 17,372 shares of the company’s stock worth $176,000 after purchasing an additional 4,959 shares during the period. Peapod Lane Capital LLC increased its position in Hooker Furnishings by 21.4% during the 3rd quarter. Peapod Lane Capital LLC now owns 177,083 shares of the company’s stock worth $1,797,000 after purchasing an additional 31,207 shares during the period. Finally, Atlantic Union Bankshares Corp increased its position in Hooker Furnishings by 22.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 15,860 shares of the company’s stock worth $161,000 after purchasing an additional 2,860 shares during the period. Institutional investors and hedge funds own 73.60% of the company’s stock.
About Hooker Furnishings
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.