Hooker Furnishings (NASDAQ:HOFT) Shares Cross Above 200 Day Moving Average – Should You Sell?

Hooker Furnishings Corp. (NASDAQ:HOFT)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.45 and traded as high as $13.92. Hooker Furnishings shares last traded at $13.11, with a volume of 31,083 shares trading hands.

Analysts Set New Price Targets

HOFT has been the topic of a number of research reports. Weiss Ratings downgraded shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. Zacks Research upgraded shares of Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, Wall Street Zen upgraded shares of Hooker Furnishings from a “sell” rating to a “hold” rating in a research report on Sunday, April 19th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

Hooker Furnishings Stock Performance

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 company’s fifty day simple moving average is $12.86 and its two-hundred day simple moving average is $12.45. The stock has a market cap of $141.33 million, a price-to-earnings ratio of -5.16, a P/E/G ratio of 1.43 and a beta of 1.22.

Hooker Furnishings (NASDAQ:HOFT) last released its quarterly earnings data on Thursday, April 16th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Hooker Furnishings had a negative net margin of 8.84% and a negative return on equity of 0.71%. The firm had revenue of $66.98 million for the quarter, compared to the consensus estimate of $74.89 million. On average, analysts forecast that Hooker Furnishings Corp. will post 0.67 earnings per share for the current year.

Hooker Furnishings Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were issued 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 dividend payout ratio is presently -18.11%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HOFT. Osaic Holdings Inc. raised its holdings in Hooker Furnishings by 940.0% during 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 during the last quarter. Cerity Partners LLC acquired a new position in Hooker Furnishings during the fourth quarter worth $117,000. Strs Ohio acquired a new position in Hooker Furnishings during the first quarter worth $124,000. LPL Financial LLC grew its stake in shares of Hooker Furnishings by 16.6% in the 4th quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock worth $132,000 after acquiring an additional 1,660 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Hooker Furnishings in the 1st quarter worth $146,000. 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.