Hooker Furnishings (NASDAQ:HOFT) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Hooker Furnishings shares recently crossed above their 200-day moving average, trading at approximately $11.04 with a high of $11.07 during the session.
• After reporting a negative earnings per share (EPS) that missed estimates, Zacks Research downgraded the stock from a "hold" to a "strong sell" rating, with an average rating of "sell" from analysts.
• The company declared a quarterly dividend of $0.23 per share, resulting in an annualized yield of 8.3%, despite a significant negative dividend payout ratio of -76.03%.

Hooker Furnishings Corp. (NASDAQ:HOFT - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $10.16 and traded as high as $11.07. Hooker Furnishings shares last traded at $11.04, with a volume of 48,643 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research lowered shares of Hooker Furnishings from a "hold" rating to a "strong sell" rating in a report on Friday, September 12th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Hooker Furnishings currently has an average rating of "Sell".

Hooker Furnishings Price Performance

The company's 50 day moving average is $10.27 and its 200 day moving average is $10.16. The company has a current ratio of 2.99, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $118.68 million, a price-to-earnings ratio of -9.12 and a beta of 1.32.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last announced its quarterly earnings results on Thursday, September 11th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.19). Hooker Furnishings had a negative return on equity of 4.17% and a negative net margin of 3.40%.The company had revenue of $82.15 million for the quarter, compared to analyst estimates of $91.21 million. During the same quarter in the prior year, the business earned ($0.19) earnings per share. Research analysts anticipate that Hooker Furnishings Corp. will post -0.44 EPS for the current fiscal year.

Hooker Furnishings Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 8.3%. The ex-dividend date is Friday, September 19th. Hooker Furnishings's dividend payout ratio (DPR) is currently -76.03%.

Institutional Investors Weigh In On Hooker Furnishings

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. grew its position in Hooker Furnishings by 940.0% during the 2nd quarter. Osaic Holdings Inc. now owns 10,400 shares of the company's stock worth $110,000 after purchasing an additional 9,400 shares during the last quarter. Strs Ohio purchased a new position in Hooker Furnishings during the 1st quarter worth $124,000. Jane Street Group LLC purchased a new position in Hooker Furnishings during the 1st quarter worth $146,000. Baron Wealth Management LLC grew its position in Hooker Furnishings by 39.6% during the 2nd quarter. Baron Wealth Management LLC now owns 16,596 shares of the company's stock worth $176,000 after purchasing an additional 4,707 shares during the last quarter. Finally, PDT Partners LLC purchased a new position in Hooker Furnishings during the 2nd quarter worth $190,000. 73.60% of the stock is currently owned by institutional investors and hedge funds.

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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