Hooker Furnishings (NASDAQ:HOFT) Stock Breaks Above Two Hundred Day Moving Average - What's Next?

Key Points

• Hooker Furnishings shares rose 3.9% and crossed above their 200-day moving average of $13.64, reaching $14.07 before closing at $14.00.
• Recent analyst actions were mostly negative: ratings were cut by Weiss Ratings, Wall Street Zen and Zacks Research, leaving the stock with an average “Reduce” rating.
• The company pays a quarterly dividend of $0.115, equivalent to an annualized $0.46 and a 3.3% yield; institutional investors own 73.6% of outstanding shares.

Hooker Furnishings Corp. (NASDAQ:HOFT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $13.64 and traded as high as $14.07. Hooker Furnishings shares last traded at $14.00, with a volume of 35,566 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently commented on HOFT. Weiss Ratings cut Hooker Furnishings from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, October 9th. Wall Street Zen cut shares of Hooker Furnishings from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 20th. Finally, Zacks Research downgraded shares of Hooker Furnishings from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce".

Hooker Furnishings Stock Up 3.9%

The firm has a 50 day moving average of $13.12 and a two-hundred day moving average of $13.64. The firm has a market capitalization of $149.66 million, a price-to-earnings ratio of -8.28, a price-to-earnings-growth ratio of 1.82 and a beta of 1.10.

Hooker Furnishings Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were paid a $0.1150 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, September 15th. Hooker Furnishings's dividend payout ratio (DPR) is presently -27.22%.

Institutional Investors Weigh In On Hooker Furnishings

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC acquired a new stake in Hooker Furnishings in the second quarter valued at approximately $27,505,000. BlackRock Inc. acquired a new position in shares of Hooker Furnishings during the second quarter worth $4,156,000. Ancora Advisors LLC acquired a new position in shares of Hooker Furnishings during the second quarter worth $1,501,000. Donald Smith & CO. Inc. acquired a new position in shares of Hooker Furnishings during the second quarter worth $16,982,000. Finally, Empowered Funds LLC acquired a new position in shares of Hooker Furnishings during the second quarter worth $555,000. 73.60% of the stock is owned by institutional investors.

About Hooker Furnishings

Hooker Furnishings Corporation is a home furnishings company that designs, manufactures, imports and markets residential furniture. Its product offerings include bedroom, dining room, living room, home office and occasional furniture, along with upholstered seating and outdoor furnishings.

The company markets products under brands that include Hooker Furniture, Home Meridian, Sam Moore, Sunset West and BOOMER. Its portfolio spans casegoods, motion and stationary upholstery, leather furniture, outdoor furniture and other home décor products.

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