Hooker Furnishings (NASDAQ:HOFT) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a buy rating to a hold rating in a research note published on Tuesday.

Hooker Furnishings Stock Performance

NASDAQ HOFT opened at $18.32 on Tuesday. Hooker Furnishings has a 52-week low of $14.73 and a 52-week high of $27.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.31 and a current ratio of 3.98. The company has a market capitalization of $195.27 million, a P/E ratio of 20.13, a P/E/G ratio of 1.07 and a beta of 1.06. The company has a fifty day moving average of $22.96 and a 200-day moving average of $21.90.

Hooker Furnishings Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend was Friday, March 15th. Hooker Furnishings’s payout ratio is presently 101.10%.

Hedge Funds Weigh In On Hooker Furnishings

A number of large investors have recently added to or reduced their stakes in the business. American National Bank & Trust Co. VA purchased a new position in Hooker Furnishings in the 1st quarter worth $357,000. Los Angeles Capital Management LLC raised its position in Hooker Furnishings by 747.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 89,088 shares of the company’s stock worth $2,139,000 after purchasing an additional 78,576 shares during the period. GSA Capital Partners LLP purchased a new position in Hooker Furnishings in the 4th quarter worth $367,000. Barclays PLC raised its position in Hooker Furnishings by 640.0% in the 4th quarter. Barclays PLC now owns 14,667 shares of the company’s stock worth $383,000 after purchasing an additional 12,685 shares during the period. Finally, West Tower Group LLC purchased a new position in Hooker Furnishings in the 4th quarter worth $64,000. Hedge funds and other institutional investors own 73.63% of the company’s stock.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. The company's 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.