Hooker Furnishings (NASDAQ:HOFT) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Hooker Furnishings Corp. (NASDAQ:HOFT) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.55 and traded as high as $15.05. Hooker Furnishings shares last traded at $14.87, with a volume of 73,405 shares traded.

Analyst Upgrades and Downgrades

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

Hooker Furnishings Price Performance

The stock has a market capitalization of $159.70 million, a P/E ratio of -6.92, a price-to-earnings-growth ratio of 1.33 and a beta of 1.11. The company’s 50-day simple moving average is $14.41 and its 200-day simple moving average is $13.55.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings data on Thursday, June 11th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.17. The company had revenue of $69.45 million during the quarter, compared to the consensus estimate of $66.31 million. Hooker Furnishings had a negative net margin of 7.90% and a positive return on equity of 1.61%. On average, analysts forecast that Hooker Furnishings Corp. will post 0.77 earnings per share for the current fiscal year.

Hooker Furnishings Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 19th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.1%. The ex-dividend date was Thursday, June 18th. Hooker Furnishings’s dividend payout ratio (DPR) is -21.40%.

Hedge Funds Weigh In On Hooker Furnishings

Institutional investors have recently bought and sold shares of the business. Donald Smith & CO. Inc. raised its stake in Hooker Furnishings by 7.1% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,066,754 shares of the company’s stock valued at $12,044,000 after buying an additional 70,681 shares during the period. Vanguard Group Inc. boosted its stake in shares of Hooker Furnishings by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 595,587 shares of the company’s stock worth $6,045,000 after acquiring an additional 4,138 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Hooker Furnishings by 35.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 366,761 shares of the company’s stock worth $4,141,000 after acquiring an additional 95,127 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Hooker Furnishings during the 2nd quarter worth approximately $3,619,000. Finally, Gate City Capital Management LLC bought a new stake in Hooker Furnishings in the 4th quarter valued at $2,472,000. 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.