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

Hooker Furnishings Corp. (NASDAQ:HOFT) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.39 and traded as high as $16.83. Hooker Furnishings shares last traded at $15.57, with a volume of 38,277 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Hooker Furnishings from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Weiss Ratings raised Hooker Furnishings from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, June 29th. Finally, Zacks Research upgraded Hooker Furnishings from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Hooker Furnishings Stock Up 2.0%

The company has a market capitalization of $164.43 million, a P/E ratio of -7.12, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. The company has a 50-day moving average of $14.15 and a two-hundred day moving average of $13.42.

Hooker Furnishings (NASDAQ:HOFT) last issued its earnings results on Thursday, June 11th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.17. The business had revenue of $69.45 million for the quarter, compared to the consensus estimate of $66.31 million. Hooker Furnishings had a positive return on equity of 1.61% and a negative net margin of 7.90%. As a group, equities analysts expect that Hooker Furnishings Corp. will post 0.78 EPS for the current fiscal year.

Hooker Furnishings Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 19th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, June 18th. Hooker Furnishings’s payout ratio is presently -21.40%.

Institutional Trading of Hooker Furnishings

Several institutional investors and hedge funds have recently modified their holdings of HOFT. Osaic Holdings Inc. raised its stake in shares of Hooker Furnishings by 940.0% during 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 in the last quarter. Cerity Partners LLC acquired a new stake in Hooker Furnishings in the 4th quarter valued at about $117,000. Strs Ohio purchased a new position in Hooker Furnishings during the first quarter worth about $124,000. LPL Financial LLC increased its position in shares of Hooker Furnishings by 16.6% during the 4th quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock worth $132,000 after purchasing an additional 1,660 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Hooker Furnishings during the first quarter worth $146,000. Institutional investors own 73.60% of the company’s stock.

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.