Hooker Furnishings (NASDAQ:HOFT) Upgraded at StockNews.com

StockNews.com upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a sell rating to a hold rating in a research report released on Thursday morning.

Hooker Furnishings Stock Up 0.2 %

HOFT opened at $13.05 on Thursday. Hooker Furnishings has a fifty-two week low of $12.06 and a fifty-two week high of $24.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.76 and a current ratio of 3.16. The stock has a market cap of $139.77 million, a price-to-earnings ratio of -14.34, a price-to-earnings-growth ratio of 0.85 and a beta of 1.25. The firm’s fifty day moving average is $13.59 and its 200 day moving average is $15.62.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings data on Thursday, December 5th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.22). Hooker Furnishings had a negative net margin of 2.46% and a negative return on equity of 3.51%. On average, sell-side analysts forecast that Hooker Furnishings will post -0.44 earnings per share for the current fiscal year.

Hooker Furnishings Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 7.05%. The ex-dividend date was Friday, December 13th. Hooker Furnishings’s dividend payout ratio (DPR) is currently -101.10%.

Insider Transactions at Hooker Furnishings

In other news, Director Paulette Garafalo sold 2,489 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $17.10, for a total transaction of $42,561.90. Following the completion of the transaction, the director now owns 20,783 shares in the company, valued at $355,389.30. This trade represents a 10.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Hooker Furnishings

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOFT. Tower Research Capital LLC TRC increased its stake in Hooker Furnishings by 225.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company’s stock worth $43,000 after acquiring an additional 2,130 shares during the last quarter. Wells Fargo & Company MN increased its position in Hooker Furnishings by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 6,227 shares of the company’s stock worth $87,000 after purchasing an additional 1,356 shares during the last quarter. Oak Hill Wealth Advisors LLC purchased a new stake in Hooker Furnishings during the fourth quarter valued at $145,000. Deutsche Bank AG raised its stake in Hooker Furnishings by 97.5% during the fourth quarter. Deutsche Bank AG now owns 14,494 shares of the company’s stock valued at $203,000 after purchasing an additional 7,157 shares in the last quarter. Finally, Baron Wealth Management LLC bought a new position in Hooker Furnishings during the third quarter valued at $215,000. 73.63% of the stock is owned by institutional investors.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The 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.