Hooker Furnishings (NASDAQ:HOFT) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Hooker Furnishings (NASDAQ:HOFT - Free Report) from a sell rating to a hold rating in a report published on Saturday morning.

Hooker Furnishings Stock Up 1.4 %

Shares of NASDAQ:HOFT traded up $0.11 during midday trading on Friday, reaching $7.68. 56,589 shares of the company were exchanged, compared to its average volume of 41,561. The firm has a market cap of $82.20 million, a PE ratio of -8.30, a P/E/G ratio of 0.85 and a beta of 1.23. The company has a quick ratio of 1.76, a current ratio of 3.16 and a debt-to-equity ratio of 0.10. Hooker Furnishings has a fifty-two week low of $7.29 and a fifty-two week high of $19.79. The stock has a fifty day simple moving average of $11.29 and a two-hundred day simple moving average of $14.22.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.09). Hooker Furnishings had a negative net margin of 2.46% and a negative return on equity of 3.51%. As a group, sell-side analysts forecast that Hooker Furnishings will post -0.44 earnings per share for the current year.

Hooker Furnishings Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.92 annualized dividend and a dividend yield of 11.99%. Hooker Furnishings's dividend payout ratio is currently -101.10%.

Institutional Trading of Hooker Furnishings

A number of institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its position in Hooker Furnishings by 225.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company's stock valued at $43,000 after purchasing an additional 2,130 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Hooker Furnishings by 9,630.8% in the 1st quarter. GAMMA Investing LLC now owns 5,060 shares of the company's stock valued at $504,000 after acquiring an additional 5,008 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Hooker Furnishings by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 6,227 shares of the company's stock valued at $87,000 after acquiring an additional 1,356 shares in the last quarter. Oak Hill Wealth Advisors LLC bought a new stake in Hooker Furnishings during the fourth quarter worth about $145,000. Finally, Deutsche Bank AG boosted its position in Hooker Furnishings by 97.5% during the fourth quarter. Deutsche Bank AG now owns 14,494 shares of the company's stock valued at $203,000 after purchasing an additional 7,157 shares during the last quarter. Institutional investors own 73.63% 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.