Hooker Furnishings (NASDAQ:HOFT) Stock Rating Lowered by StockNews.com

Hooker Furnishings (NASDAQ:HOFT) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Hooker Furnishings Trading Up 0.3 %

HOFT stock opened at $18.46 on Tuesday. The firm has a market cap of $196.97 million, a P/E ratio of 20.29, a PEG ratio of 0.91 and a beta of 1.06. Hooker Furnishings has a 52-week low of $14.73 and a 52-week high of $27.15. The company’s 50-day simple moving average is $23.41 and its 200-day simple moving average is $21.98. The company has a quick ratio of 2.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HOFT. Bank of New York Mellon Corp lifted its stake in Hooker Furnishings by 4.1% in the 1st quarter. Bank of New York Mellon Corp now owns 123,942 shares of the company’s stock valued at $2,347,000 after buying an additional 4,870 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Hooker Furnishings by 39.7% in the 1st quarter. MetLife Investment Management LLC now owns 8,421 shares of the company’s stock valued at $159,000 after buying an additional 2,392 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Hooker Furnishings by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 884,972 shares of the company’s stock worth $16,762,000 after purchasing an additional 5,479 shares in the last quarter. Vanguard Group Inc. lifted its stake in Hooker Furnishings by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 558,993 shares of the company’s stock worth $10,588,000 after purchasing an additional 8,059 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Hooker Furnishings by 514.9% in the 1st quarter. Renaissance Technologies LLC now owns 76,865 shares of the company’s stock worth $1,456,000 after purchasing an additional 64,365 shares in the last quarter. 73.63% of the stock is owned by hedge funds and other institutional investors.

About Hooker Furnishings

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. The company's Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.