Hooker Furnishings (NASDAQ:HOFT) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Hooker Furnishings Corp. (NASDAQ:HOFT) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.42 and traded as high as $13.47. Hooker Furnishings shares last traded at $13.15, with a volume of 57,333 shares.

Analysts Set New Price Targets

Several analysts recently issued reports on HOFT shares. Zacks Research raised shares of Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hooker Furnishings in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

Hooker Furnishings Price Performance

The business’s fifty day simple moving average is $11.19 and its 200-day simple moving average is $10.42. The firm has a market cap of $141.76 million, a P/E ratio of -4.68 and a beta of 1.39. The company has a current ratio of 2.67, a quick ratio of 1.35 and a debt-to-equity ratio of 0.02.

Hooker Furnishings (NASDAQ:HOFT) last issued its earnings results on Thursday, December 11th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.54. Hooker Furnishings had a negative return on equity of 1.07% and a negative net margin of 8.71%.The business had revenue of $70.73 million during the quarter, compared to the consensus estimate of $85.50 million. As a group, analysts forecast that Hooker Furnishings Corp. will post -0.44 EPS for the current fiscal year.

Hooker Furnishings Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Sunday, December 21st were issued a $0.115 dividend. The ex-dividend date of this dividend was Friday, December 19th. This represents a $0.46 annualized dividend and a dividend yield of 3.5%. Hooker Furnishings’s dividend payout ratio is presently -16.37%.

Institutional Investors Weigh In On Hooker Furnishings

Large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its stake in Hooker Furnishings by 940.0% in the 2nd quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock worth $110,000 after acquiring an additional 9,400 shares during the last quarter. Strs Ohio bought a new stake in shares of Hooker Furnishings during the 1st quarter valued at about $124,000. Jane Street Group LLC purchased a new position in shares of Hooker Furnishings during the first quarter worth about $146,000. Bank of America Corp DE increased its position in shares of Hooker Furnishings by 61.2% in the third quarter. Bank of America Corp DE now owns 15,126 shares of the company’s stock worth $154,000 after purchasing an additional 5,740 shares during the last quarter. Finally, Atlantic Union Bankshares Corp raised its stake in Hooker Furnishings by 22.0% in the third quarter. Atlantic Union Bankshares Corp now owns 15,860 shares of the company’s stock valued at $161,000 after purchasing an additional 2,860 shares in the last quarter. 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.