Hooker Furnishings (NASDAQ:HOFT) Stock Crosses Above 200 Day Moving Average – What’s Next?

Hooker Furnishings Corp. (NASDAQ:HOFT)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.13 and traded as high as $14.67. Hooker Furnishings shares last traded at $14.34, with a volume of 28,707 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HOFT shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hooker Furnishings in a research report on Thursday, January 22nd. Zacks Research cut shares of Hooker Furnishings from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Finally, Wall Street Zen upgraded shares of Hooker Furnishings from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Hooker Furnishings Stock Up 0.4%

The firm has a market cap of $154.59 million, a P/E ratio of -5.10, a P/E/G ratio of 1.16 and a beta of 1.39. The firm’s fifty day moving average is $13.07 and its 200 day moving average is $11.13. 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 issued its quarterly earnings data on Thursday, December 11th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.54. Hooker Furnishings had a negative net margin of 8.71% and a negative return on equity of 1.07%. The firm had revenue of $70.73 million during the quarter, compared to the consensus estimate of $85.50 million. As a group, equities research analysts anticipate that Hooker Furnishings Corp. will post -0.44 earnings per share for the current fiscal year.

Hooker Furnishings Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Sunday, December 21st were paid a $0.115 dividend. The ex-dividend date was Friday, December 19th. This represents a $0.46 annualized dividend and a yield of 3.2%. Hooker Furnishings’s payout ratio is -16.37%.

Institutional Investors Weigh In On Hooker Furnishings

A number of hedge funds and other institutional investors have recently modified their holdings of HOFT. Gate City Capital Management LLC bought a new stake in shares of Hooker Furnishings in the fourth quarter valued at about $2,472,000. Charles Schwab Investment Management Inc. raised its stake in Hooker Furnishings by 35.0% in the 4th 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 in the last quarter. Donald Smith & CO. Inc. raised its stake in Hooker Furnishings by 7.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,066,754 shares of the company’s stock worth $12,044,000 after purchasing an additional 70,681 shares in the last quarter. Cerity Partners LLC bought a new stake in Hooker Furnishings in the 4th quarter valued at about $117,000. Finally, LPL Financial LLC grew its position in shares of Hooker Furnishings by 16.6% during the 4th quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock worth $132,000 after purchasing an additional 1,660 shares in the last quarter. Institutional investors and hedge funds own 73.60% of the company’s stock.

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.