Hooker Furnishings (NASDAQ:HOFT) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Hooker Furnishings shares rose 3.5% and crossed above their 200-day moving average, trading as high as $13.52 and last at $13.31. The move comes as investors watch whether the stock can sustain its recent momentum.
• Analyst sentiment remains cautious, with the stock carrying an average rating of “Reduce.” Recent updates included upgrades from Wall Street Zen and Zacks to “hold,” while Weiss Ratings reiterated a “sell” rating.
• Latest results were mixed: the company beat EPS estimates with $0.08 per share, but revenue of $66.98 million came in below expectations. Hooker Furnishings also pays a quarterly dividend of $0.115, implying a 3.5% annual yield.

Hooker Furnishings Corp. (NASDAQ:HOFT - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.09 and traded as high as $13.52. Hooker Furnishings shares last traded at $13.31, with a volume of 22,490 shares.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HOFT. Wall Street Zen upgraded shares of Hooker Furnishings from a "sell" rating to a "hold" rating in a research note on Sunday, April 19th. Zacks Research upgraded shares of Hooker Furnishings from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Hooker Furnishings in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce".

Hooker Furnishings Stock Up 3.5%

The company has a debt-to-equity ratio of 0.02, a current ratio of 3.37 and a quick ratio of 1.60. The firm's 50-day simple moving average is $13.01 and its two-hundred day simple moving average is $12.09. The company has a market capitalization of $143.48 million, a price-to-earnings ratio of -5.24, a price-to-earnings-growth ratio of 1.37 and a beta of 1.22.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last issued its earnings results on Thursday, April 16th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Hooker Furnishings had a negative net margin of 8.84% and a negative return on equity of 0.71%. The company had revenue of $66.98 million for the quarter, compared to analyst estimates of $74.89 million. Sell-side analysts predict that Hooker Furnishings Corp. will post 0.67 EPS for the current fiscal year.

Hooker Furnishings Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were given a $0.115 dividend. The ex-dividend date was Monday, March 16th. This represents a $0.46 annualized dividend and a dividend yield of 3.5%. Hooker Furnishings's dividend payout ratio is currently -18.11%.

Institutional Trading of Hooker Furnishings

Large investors have recently modified their holdings of the business. Osaic Holdings Inc. grew its position in shares of Hooker Furnishings by 940.0% in the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company's stock valued at $110,000 after purchasing an additional 9,400 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Hooker Furnishings in the fourth quarter valued at approximately $117,000. Strs Ohio acquired a new stake in shares of Hooker Furnishings in the first quarter valued at approximately $124,000. LPL Financial LLC grew 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 purchasing an additional 1,660 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Hooker Furnishings in the first quarter valued at approximately $146,000. 73.60% of the stock is currently owned by institutional investors and hedge funds.

About Hooker Furnishings

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.

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