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

Hooker Furnishings Corp. (NASDAQ:HOFT)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.39 and traded as high as $16.83. Hooker Furnishings shares last traded at $15.57, with a volume of 38,277 shares trading hands.

Wall Street Analyst Weigh In

HOFT has been the topic of a number of research analyst reports. Weiss Ratings raised Hooker Furnishings from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, June 29th. Wall Street Zen raised Hooker Furnishings from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Zacks Research raised Hooker Furnishings from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Hooker Furnishings Stock Performance

The firm has a market capitalization of $167.22 million, a PE ratio of -7.24, a PEG ratio of 1.52 and a beta of 1.11. The company’s 50-day moving average price is $14.11 and its 200-day moving average price is $13.39.

Hooker Furnishings (NASDAQ:HOFT) last posted its earnings results on Thursday, June 11th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.17. Hooker Furnishings had a positive return on equity of 1.61% and a negative net margin of 7.90%.The firm had revenue of $69.45 million for the quarter, compared to analyst estimates of $66.31 million. As a group, analysts anticipate that Hooker Furnishings Corp. will post 0.78 earnings per share for the current year.

Hooker Furnishings Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 19th were issued a $0.115 dividend. The ex-dividend date was Thursday, June 18th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.0%. Hooker Furnishings’s dividend payout ratio is presently -21.40%.

Institutional Investors Weigh In On Hooker Furnishings

Several institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its position in shares of Hooker Furnishings by 7.2% during the 1st quarter. Empowered Funds LLC now owns 55,319 shares of the company’s stock worth $555,000 after buying an additional 3,696 shares during the last quarter. Jane Street Group LLC acquired a new stake in Hooker Furnishings during the 1st quarter worth $146,000. Strs Ohio acquired a new stake in Hooker Furnishings during the 1st quarter worth $124,000. Marshall Wace LLP purchased a new stake in Hooker Furnishings in the second quarter valued at $495,000. Finally, Jump Financial LLC acquired a new position in Hooker Furnishings in the second quarter valued at $202,000. Hedge funds and other 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.