Hooker Furnishings (NASDAQ:HOFT) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Technical breakout: Shares moved above the 200‑day moving average (200‑day MA $11.97), trading as high as $12.96 and last at $12.21 on volume of 75,274.
• Mixed fundamentals and analyst view: Analysts' consensus is an average "Reduce" despite a few upgrades to Hold; the company beat EPS ($0.08 vs $0.05) but missed revenue ($66.98M vs $74.89M) and shows negative profitability (negative net margin and negative P/E).
• Dividend and ownership: Hooker pays a quarterly dividend of $0.115 (annualized yield ~3.8%) and institutional investors hold about 73.6% of the stock, with a market cap near $131.6M.

Shares of Hooker Furnishings Corp. (NASDAQ:HOFT - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.97 and traded as high as $12.96. Hooker Furnishings shares last traded at $12.21, with a volume of 75,274 shares changing hands.

Wall Street Analysts Forecast Growth

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

Hooker Furnishings Price Performance

The firm has a 50 day moving average of $13.21 and a 200-day moving average of $11.97. The company has a market cap of $131.62 million, a P/E ratio of -4.81, a P/E/G ratio of 1.27 and a beta of 1.34. The company has a current ratio of 3.37, a quick ratio of 1.60 and a debt-to-equity ratio of 0.02.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last issued its earnings results on Thursday, April 16th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $66.98 million for the quarter, compared to the consensus estimate of $74.89 million. Hooker Furnishings had a negative return on equity of 0.71% and a negative net margin of 8.84%. On average, equities research analysts predict that Hooker Furnishings Corp. will post 0.72 EPS for the current year.

Hooker Furnishings Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Monday, March 16th. Hooker Furnishings's dividend payout ratio (DPR) is -18.11%.

Institutional Trading of Hooker Furnishings

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pzena Investment Management LLC raised its stake in Hooker Furnishings by 4.2% during the 3rd quarter. Pzena Investment Management LLC now owns 1,416,002 shares of the company's stock valued at $14,372,000 after purchasing an additional 57,276 shares during the period. Donald Smith & CO. Inc. raised 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 valued at $12,044,000 after purchasing an additional 70,681 shares during the period. Vanguard Group Inc. raised its stake in Hooker Furnishings by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 595,587 shares of the company's stock valued at $6,045,000 after purchasing an additional 4,138 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Hooker Furnishings by 35.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 366,761 shares of the company's stock valued at $4,141,000 after buying an additional 95,127 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in Hooker Furnishings by 15.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 364,973 shares of the company's stock valued at $3,704,000 after buying an additional 47,559 shares in the last quarter. Institutional investors own 73.60% of the company's stock.

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.

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