Hooker Furnishings (NASDAQ:HOFT) Stock Crosses Above 200-Day Moving Average – Here’s Why

Hooker Furnishings Corp. (NASDAQ:HOFT) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.57 and traded as high as $12.65. Hooker Furnishings shares last traded at $12.34, with a volume of 26,556 shares traded.

Analyst Upgrades and Downgrades

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

Hooker Furnishings Stock Up 0.2%

The firm has a market cap of $133.03 million, a PE ratio of -4.86, a price-to-earnings-growth ratio of 1.31 and a beta of 1.19. 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 has a 50-day simple moving average of $12.95 and a 200-day simple moving average of $12.57.

Hooker Furnishings (NASDAQ:HOFT) last issued its earnings results on Thursday, April 16th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $66.98 million during the quarter, compared to analyst estimates of $74.89 million. Hooker Furnishings had a negative net margin of 8.84% and a negative return on equity of 0.71%. Analysts expect that Hooker Furnishings Corp. will post 0.67 earnings per share for the current fiscal year.

Institutional Trading of Hooker Furnishings

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Hooker Furnishings by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 120,645 shares of the company’s stock valued at $1,363,000 after purchasing an additional 1,100 shares during the period. Royal Bank of Canada boosted its holdings in shares of Hooker Furnishings by 6.0% in the first quarter. Royal Bank of Canada now owns 21,383 shares of the company’s stock valued at $276,000 after purchasing an additional 1,218 shares during the period. LPL Financial LLC boosted its holdings in shares of Hooker Furnishings by 16.6% in the fourth quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock valued at $132,000 after purchasing an additional 1,660 shares during the period. Empowered Funds LLC boosted its holdings in shares of Hooker Furnishings by 10.6% in the first quarter. Empowered Funds LLC now owns 28,696 shares of the company’s stock valued at $370,000 after purchasing an additional 2,747 shares during the period. Finally, Atlantic Union Bankshares Corp boosted its holdings in shares of 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 during the period. 73.60% of the stock is owned by hedge funds and other institutional investors.

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.