Hooker Furnishings (NASDAQ:HOFT) Raised to Hold at Zacks Research

Key Points

• Hooker Furnishings was upgraded to a "hold" rating by Zacks Research, while Wall Street Zen downgraded it from "hold" to "sell" just days prior.
• The company reported a loss of $0.29 EPS in its latest earnings, missing the consensus estimate and indicating challenges with a negative return on equity and net margin.
• Despite recent downgrades, institutional investors own 73.60% of Hooker Furnishings' stock, suggesting some level of confidence in the company's long-term potential.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) was upgraded by equities research analysts at Zacks Research to a "hold" rating in a report released on Tuesday,Zacks.com reports.

Separately, Wall Street Zen downgraded Hooker Furnishings from a "hold" rating to a "sell" rating in a report on Sunday, April 20th.

Hooker Furnishings Trading Down 3.9%

NASDAQ HOFT opened at $9.86 on Tuesday. The company has a quick ratio of 1.96, a current ratio of 3.94 and a debt-to-equity ratio of 0.11. Hooker Furnishings has a twelve month low of $7.34 and a twelve month high of $19.79. The firm has a market capitalization of $105.50 million, a PE ratio of -9.05, a P/E/G ratio of 5.64 and a beta of 1.35. The stock's 50 day moving average is $10.56 and its 200 day moving average is $10.68.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last released its earnings results on Thursday, June 12th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.13). Hooker Furnishings had a negative return on equity of 3.41% and a negative net margin of 2.95%. The company had revenue of $85.32 million during the quarter, compared to the consensus estimate of $88.87 million. Research analysts forecast that Hooker Furnishings will post -0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HOFT. Ameriprise Financial Inc. purchased a new position in shares of Hooker Furnishings in the second quarter worth $3,619,000. RBF Capital LLC purchased a new position in shares of Hooker Furnishings in the second quarter worth $2,807,000. CSM Advisors LLC purchased a new position in shares of Hooker Furnishings in the second quarter worth $1,169,000. First Eagle Investment Management LLC raised its stake in shares of Hooker Furnishings by 35.8% in the second quarter. First Eagle Investment Management LLC now owns 317,414 shares of the company's stock worth $3,358,000 after purchasing an additional 83,761 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY purchased a new stake in Hooker Furnishings during the first quarter valued at $803,000. Hedge funds and other institutional investors own 73.60% of the company's stock.

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.

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