Hooker Furnishings (NASDAQ:HOFT) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Several other research firms have also commented on HOFT. Weiss Ratings lowered Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday. Zacks Research downgraded Hooker Furnishings from a “strong-buy” rating to a “hold” 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.com, the stock presently has a consensus rating of “Reduce”.

Hooker Furnishings Stock Down 0.6%

Shares of Hooker Furnishings stock opened at $14.12 on Friday. Hooker Furnishings has a 52-week low of $8.61 and a 52-week high of $18.09. The company has a 50 day moving average of $14.46 and a 200 day moving average of $13.58. The company has a market capitalization of $151.65 million, a P/E ratio of -6.57, a P/E/G ratio of 1.31 and a beta of 1.11.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings data on Thursday, June 11th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.17. Hooker Furnishings had a negative net margin of 7.90% and a positive return on equity of 1.61%. The company had revenue of $69.45 million for the quarter, compared to the consensus estimate of $66.31 million. As a group, research analysts anticipate that Hooker Furnishings will post 0.77 earnings per share for the current fiscal year.

Hooker Furnishings Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 19th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $0.46 annualized dividend and a yield of 3.3%. Hooker Furnishings’s payout ratio is -21.40%.

Institutional Investors Weigh In On Hooker Furnishings

Several large investors have recently modified their holdings of HOFT. Fifth Third Wealth Advisors LLC acquired a new position in shares of Hooker Furnishings in the 1st quarter valued at $665,000. Gate City Capital Management LLC acquired a new stake in Hooker Furnishings during the 4th quarter worth $2,472,000. Donald Smith & CO. Inc. boosted its stake 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 purchasing an additional 70,681 shares during the period. Peapod Lane Capital LLC grew its position in Hooker Furnishings by 5.0% during the 4th quarter. Peapod Lane Capital LLC now owns 185,982 shares of the company’s stock worth $2,100,000 after purchasing an additional 8,899 shares during the last quarter. Finally, Empowered Funds LLC grew its position in Hooker Furnishings by 10.6% during the 1st quarter. Empowered Funds LLC now owns 28,696 shares of the company’s stock worth $370,000 after purchasing an additional 2,747 shares during the last quarter. 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.