Hooker Furniture Corporation (NASDAQ:HOFT) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Friday.

Shares of Hooker Furniture Corporation (HOFT) traded down 0.36% during midday trading on Friday, hitting $41.15. The company had a trading volume of 84,591 shares. The firm has a market capitalization of $475.49 million, a P/E ratio of 17.37 and a beta of 0.60. The firm’s 50-day moving average is $42.48 and its 200-day moving average is $38.79. Hooker Furniture Corporation has a 12-month low of $22.79 and a 12-month high of $46.60.

Hooker Furniture Corporation (NASDAQ:HOFT) last announced its earnings results on Thursday, June 8th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.05. Hooker Furniture Corporation had a net margin of 4.70% and a return on equity of 14.53%. The firm had revenue of $130.90 million during the quarter, compared to analyst estimates of $133.83 million. During the same period in the prior year, the business posted $0.22 EPS. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts predict that Hooker Furniture Corporation will post $2.67 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was published by American Banking News and is the property of of American Banking News. If you are accessing this article on another site, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/08/18/hooker-furniture-corporation-hoft-stock-rating-lowered-by-bidaskclub.html.

Large investors have recently made changes to their positions in the stock. Alps Advisors Inc. raised its position in Hooker Furniture Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 15,522 shares of the company’s stock valued at $639,000 after buying an additional 41 shares during the period. First Interstate Bank raised its position in Hooker Furniture Corporation by 2.2% in the second quarter. First Interstate Bank now owns 5,333 shares of the company’s stock valued at $219,000 after buying an additional 115 shares during the period. The Manufacturers Life Insurance Company raised its position in Hooker Furniture Corporation by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 9,287 shares of the company’s stock valued at $383,000 after buying an additional 187 shares during the period. American International Group Inc. raised its position in Hooker Furniture Corporation by 7.1% in the first quarter. American International Group Inc. now owns 6,988 shares of the company’s stock valued at $217,000 after buying an additional 464 shares during the period. Finally, US Bancorp DE raised its position in Hooker Furniture Corporation by 2.2% in the first quarter. US Bancorp DE now owns 28,019 shares of the company’s stock valued at $870,000 after buying an additional 593 shares during the period. 84.20% of the stock is currently owned by institutional investors and hedge funds.

About Hooker Furniture Corporation

Hooker Furniture Corporation is a home furnishings marketing, design and logistics company offering sourcing of residential casegoods and upholstery, as well as domestically-produced leather and fabric-upholstered furniture. The Company operates through three segments: casegoods furniture, upholstered furniture and all other.

Receive News & Ratings for Hooker Furniture Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hooker Furniture Corporation and related companies with MarketBeat.com's FREE daily email newsletter.