Hooker Furnishings (NASDAQ:HOFT) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Hooker Furnishings Co. (NASDAQ:HOFT - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.16 and traded as high as $12.16. Hooker Furnishings shares last traded at $11.36, with a volume of 117,109 shares traded.

Wall Street Analysts Forecast Growth

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

Hooker Furnishings Stock Performance

The firm has a market cap of $108.53 million, a PE ratio of -11.14, a price-to-earnings-growth ratio of 0.85 and a beta of 1.37. The business has a 50 day simple moving average of $9.39 and a two-hundred day simple moving average of $12.16. 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 (NASDAQ:HOFT - Get Free Report) last issued its 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). Hooker Furnishings had a negative net margin of 2.46% and a negative return on equity of 3.51%. The firm had revenue of $85.32 million for the quarter, compared to the consensus estimate of $88.87 million. As a group, equities research analysts forecast that Hooker Furnishings Co. will post -0.44 earnings per share for the current fiscal year.

Hooker Furnishings Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 9.07%. Hooker Furnishings's dividend payout ratio is presently -77.31%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Peapod Lane Capital LLC acquired a new stake in Hooker Furnishings in the 4th quarter worth approximately $1,893,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of Hooker Furnishings during the 1st quarter worth approximately $803,000. Charles Schwab Investment Management Inc. increased its holdings in Hooker Furnishings by 250.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 110,471 shares of the company's stock valued at $1,109,000 after buying an additional 78,940 shares in the last quarter. Azarias Capital Management L.P. boosted its position in Hooker Furnishings by 10.3% during the fourth quarter. Azarias Capital Management L.P. now owns 754,328 shares of the company's stock worth $10,568,000 after purchasing an additional 70,281 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of Hooker Furnishings by 95.5% during the 4th quarter. First Eagle Investment Management LLC now owns 113,909 shares of the company's stock valued at $1,596,000 after buying an additional 55,629 shares in the last quarter. Institutional investors own 73.63% of the company's stock.

About Hooker Furnishings

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.