Hooker Furnishings (NASDAQ:HOFT) Rating Increased to Strong-Buy at Wall Street Zen

Hooker Furnishings (NASDAQ:HOFT) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

HOFT has been the topic of a number of other reports. Weiss Ratings cut Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday. Zacks Research lowered shares of Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

Hooker Furnishings Price Performance

Shares of Hooker Furnishings stock opened at $14.12 on Friday. The business has a 50-day simple moving average of $14.46 and a 200 day simple moving average of $13.58. Hooker Furnishings has a one year low of $8.61 and a one year high of $18.09. The firm has a market capitalization of $151.65 million, a price-to-earnings ratio of -6.57, a PEG ratio of 1.32 and a beta of 1.11.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings results on Thursday, June 11th. The company reported $0.10 earnings per share (EPS) for the quarter, topping 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 business had revenue of $69.45 million for the quarter, compared to analyst estimates of $66.31 million. On average, sell-side analysts expect that Hooker Furnishings will post 0.77 EPS for the current year.

Hedge Funds Weigh In On Hooker Furnishings

Several large investors have recently bought and sold shares of HOFT. Donald Smith & CO. Inc. boosted its holdings in Hooker Furnishings by 7.1% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,066,754 shares of the company’s stock worth $12,044,000 after acquiring an additional 70,681 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Hooker Furnishings by 0.7% during the third quarter. Vanguard Group Inc. now owns 595,587 shares of the company’s stock valued at $6,045,000 after purchasing an additional 4,138 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Hooker Furnishings by 35.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 366,761 shares of the company’s stock worth $4,141,000 after purchasing an additional 95,127 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in Hooker Furnishings during the second quarter worth about $3,619,000. Finally, Gate City Capital Management LLC bought a new stake in Hooker Furnishings in the 4th quarter worth about $2,472,000. 73.60% of the stock is currently owned by 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.