Hooker Furnishings (NASDAQ:HOFT) Stock Rating Lowered by Wall Street Zen

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

HOFT has been the subject of several other research reports. Zacks Research downgraded Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Weiss Ratings downgraded shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Hooker Furnishings presently has an average rating of “Reduce”.

Hooker Furnishings Price Performance

NASDAQ:HOFT opened at $13.97 on Friday. Hooker Furnishings has a 12-month low of $8.61 and a 12-month high of $18.09. The firm has a market capitalization of $150.04 million, a price-to-earnings ratio of -6.50, a P/E/G ratio of 1.30 and a beta of 1.13. The stock’s 50 day moving average price is $14.66 and its two-hundred day moving average price is $13.76.

Hooker Furnishings (NASDAQ:HOFT) last issued its earnings results on Thursday, June 11th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.17. The company had revenue of $69.45 million during 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%. Equities research analysts expect that Hooker Furnishings will post 0.77 EPS for the current year.

Institutional Trading of Hooker Furnishings

Several hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its holdings in Hooker Furnishings by 940.0% in the 2nd quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock valued at $110,000 after buying an additional 9,400 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Hooker Furnishings during the fourth quarter worth $117,000. Strs Ohio bought a new stake in shares of Hooker Furnishings in the first quarter valued at about $124,000. LPL Financial LLC boosted its position 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 acquiring an additional 1,660 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Hooker Furnishings in the first quarter valued at about $146,000. 73.60% of the stock is owned by institutional investors and hedge funds.

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.