Hooker Furnishings (NASDAQ:HOFT) Shares Pass Above 200 Day Moving Average – Time to Sell?

Hooker Furnishings Corp. (NASDAQ:HOFT) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.35 and traded as high as $12.28. Hooker Furnishings shares last traded at $12.04, with a volume of 18,922 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Hooker Furnishings in a report on Wednesday, October 8th. Zacks Research raised Hooker Furnishings from a “strong sell” rating to a “hold” rating in a report on Thursday, December 25th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Hooker Furnishings presently has a consensus rating of “Reduce”.

Hooker Furnishings Stock Up 1.2%

The stock’s fifty day simple moving average is $10.83 and its 200-day simple moving average is $10.35. The stock has a market cap of $129.77 million, a P/E ratio of -4.28 and a beta of 1.39. 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 results on Thursday, December 11th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.54. The company had revenue of $70.73 million during the quarter, compared to the consensus estimate of $85.50 million. Hooker Furnishings had a negative net margin of 8.71% and a negative return on equity of 1.07%. As a group, research analysts forecast that Hooker Furnishings Corp. will post -0.44 earnings per share for the current fiscal year.

Hooker Furnishings Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Sunday, December 21st were issued a $0.115 dividend. The ex-dividend date of this dividend was Friday, December 19th. This represents a $0.46 annualized dividend and a yield of 3.8%. Hooker Furnishings’s payout ratio is currently -16.37%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. raised its stake in Hooker Furnishings by 940.0% in the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock valued at $110,000 after purchasing an additional 9,400 shares in the last quarter. Strs Ohio bought a new position in Hooker Furnishings in the 1st quarter valued at about $124,000. Jane Street Group LLC acquired a new position in shares of Hooker Furnishings in the 1st quarter valued at approximately $146,000. Bank of America Corp DE lifted its holdings in shares of Hooker Furnishings by 61.2% during the 3rd quarter. Bank of America Corp DE now owns 15,126 shares of the company’s stock worth $154,000 after acquiring an additional 5,740 shares during the period. Finally, Atlantic Union Bankshares Corp boosted its position in shares of 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 acquiring an additional 2,860 shares in the last quarter. Institutional investors 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.