Wall Street Zen Downgrades Hooker Furnishings (NASDAQ:HOFT) to Buy

Key Points

• Wall Street Zen downgraded Hooker Furnishings from “strong buy” to “buy,” while other recent ratings were mixed; MarketBeat lists the stock’s average rating as “Reduce.”
• HOFT opened at $13.97, with a market capitalization of approximately $150.1 million and a 52-week range of $8.61 to $18.09. The company’s latest quarterly results beat expectations, reporting $0.10 in EPS versus the consensus estimate of a $0.07 loss.
• Institutional investors and hedge funds own approximately 73.6% of the company, with several firms recently initiating or increasing positions in Hooker Furnishings.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

HOFT has been the subject of a number of other research reports. Weiss Ratings downgraded Hooker Furnishings from a "sell (d)" rating to a "sell (d-)" rating in a research report on Tuesday, July 14th. Zacks Research cut Hooker Furnishings from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Hooker Furnishings currently has an average rating of "Reduce".

Hooker Furnishings Trading Down 0.3%

NASDAQ:HOFT opened at $13.97 on Friday. The company has a 50-day moving average of $14.66 and a 200-day moving average of $13.75. The firm has a market cap of $150.07 million, a price-to-earnings ratio of -6.50, a price-to-earnings-growth ratio of 1.30 and a beta of 1.11. Hooker Furnishings has a twelve month low of $8.61 and a twelve month high of $18.09.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last released its earnings results on Thursday, June 11th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.17. The business had revenue of $69.45 million for the quarter, compared to the consensus estimate of $66.31 million. Hooker Furnishings had a negative net margin of 7.90% and a positive return on equity of 1.61%. On average, research analysts forecast that Hooker Furnishings will post 0.77 earnings per share for the current year.

Institutional Trading of Hooker Furnishings

Institutional investors have recently made changes to their positions in the stock. Fifth Third Wealth Advisors LLC acquired a new position in Hooker Furnishings in the 1st quarter valued at approximately $665,000. Gate City Capital Management LLC acquired a new stake in shares of Hooker Furnishings during the 4th quarter valued at $2,472,000. Donald Smith & CO. Inc. boosted its stake in shares of 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 buying an additional 70,681 shares during the period. Peapod Lane Capital LLC grew its holdings in shares of Hooker Furnishings by 5.0% during the 4th quarter. Peapod Lane Capital LLC now owns 185,982 shares of the company's stock valued at $2,100,000 after acquiring an additional 8,899 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Hooker Furnishings by 10.6% during the 1st quarter. Empowered Funds LLC now owns 28,696 shares of the company's stock valued at $370,000 after acquiring an additional 2,747 shares in the last quarter. 73.60% of the stock is currently owned by institutional investors and hedge funds.

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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