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

Hooker Furnishings Corp. (NASDAQ:HOFT - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.26 and traded as high as $11.95. Hooker Furnishings shares last traded at $11.18, with a volume of 49,319 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Hooker Furnishings from a "hold" rating to a "sell" rating in a research note on Sunday, April 20th.

Hooker Furnishings Stock Up 1.5%

The stock's fifty day moving average is $10.24 and its two-hundred day moving average is $11.23. The company has a current ratio of 3.94, a quick ratio of 1.96 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $119.55 million, a PE ratio of -10.25, a P/E/G ratio of 5.98 and a beta of 1.37.

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

Hooker Furnishings Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 8.24%. The ex-dividend date was Monday, June 16th. Hooker Furnishings's dividend payout ratio (DPR) is presently -84.40%.

Institutional Investors Weigh In On Hooker Furnishings

Several institutional investors have recently added to or reduced their stakes in the business. Baron Wealth Management LLC lifted its holdings in shares of Hooker Furnishings by 39.6% in the second quarter. Baron Wealth Management LLC now owns 16,596 shares of the company's stock worth $176,000 after buying an additional 4,707 shares in the last quarter. Strs Ohio purchased a new stake in shares of Hooker Furnishings in the first quarter worth about $124,000. Jane Street Group LLC purchased a new stake in shares of Hooker Furnishings in the first quarter worth about $146,000. Empowered Funds LLC lifted its holdings in shares of Hooker Furnishings by 7.2% in the first quarter. Empowered Funds LLC now owns 55,319 shares of the company's stock worth $555,000 after buying an additional 3,696 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY purchased a new stake in shares of Hooker Furnishings in the first quarter worth about $803,000. 73.63% of the stock is owned by hedge funds and other institutional investors.

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.