Hooker Furnishings (NASDAQ:HOFT) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Hooker Furnishings Corp. (NASDAQ:HOFT) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.45 and traded as high as $12.03. Hooker Furnishings shares last traded at $11.95, with a volume of 24,519 shares changing hands.

Wall Street Analyst Weigh In

HOFT has been the topic of several recent research reports. Wall Street Zen upgraded shares of Hooker Furnishings from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings reissued a “sell (d)” rating on shares of Hooker Furnishings in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce”.

Hooker Furnishings Stock Performance

The company has a quick ratio of 1.35, a current ratio of 2.67 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $13.52 and a two-hundred day moving average price of $11.45. The stock has a market cap of $128.82 million, a P/E ratio of -4.25, a price-to-earnings-growth ratio of 0.89 and a beta of 1.35.

Hooker Furnishings Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, March 16th. Hooker Furnishings’s dividend payout ratio is presently -16.37%.

Institutional Investors Weigh In On Hooker Furnishings

Institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its holdings in shares of Hooker Furnishings by 940.0% in the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock worth $110,000 after buying an additional 9,400 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Hooker Furnishings during the fourth quarter worth $117,000. Strs Ohio purchased a new position in Hooker Furnishings during the first quarter valued at $124,000. LPL Financial LLC increased its holdings in Hooker Furnishings by 16.6% in the 4th quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock valued at $132,000 after acquiring an additional 1,660 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Hooker Furnishings in the 1st quarter valued at $146,000. Institutional investors 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.