StockNews.com Upgrades Hooker Furnishings (NASDAQ:HOFT) to Buy

Hooker Furnishings (NASDAQ:HOFT) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

Hooker Furnishings Trading Down 2.7 %

Shares of NASDAQ:HOFT opened at $23.34 on Friday. Hooker Furnishings has a 52 week low of $14.73 and a 52 week high of $27.15. The company’s 50 day moving average is $23.96 and its two-hundred day moving average is $21.67. The company has a market cap of $249.08 million, a PE ratio of -31.12, a P/E/G ratio of 0.91 and a beta of 1.06. The company has a current ratio of 3.71, a quick ratio of 2.31 and a debt-to-equity ratio of 0.10.

Institutional Trading of Hooker Furnishings

Several institutional investors have recently modified their holdings of HOFT. BlackRock Inc. raised its stake in Hooker Furnishings by 138.8% during the 2nd quarter. BlackRock Inc. now owns 790,770 shares of the company’s stock worth $14,756,000 after acquiring an additional 459,632 shares in the last quarter. Azarias Capital Management L.P. boosted its position in shares of Hooker Furnishings by 50.4% in the 3rd quarter. Azarias Capital Management L.P. now owns 497,603 shares of the company’s stock valued at $9,678,000 after purchasing an additional 166,858 shares during the period. Vanguard Group Inc. grew its stake in Hooker Furnishings by 28.7% during the 3rd quarter. Vanguard Group Inc. now owns 695,581 shares of the company’s stock worth $13,529,000 after buying an additional 155,186 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Hooker Furnishings by 121.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 231,002 shares of the company’s stock worth $3,592,000 after buying an additional 126,532 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Hooker Furnishings by 144.3% during the second quarter. Renaissance Technologies LLC now owns 187,765 shares of the company’s stock worth $2,920,000 after buying an additional 110,900 shares during the period. Hedge funds and other institutional investors own 74.01% of the company’s stock.

About Hooker Furnishings

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. The company's 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.