Hooker Furnishings (NASDAQ:HOFT) Shares Cross Above 200 Day Moving Average – Time to Sell?

Hooker Furnishings Corp. (NASDAQ:HOFT)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.57 and traded as high as $12.65. Hooker Furnishings shares last traded at $12.34, with a volume of 26,556 shares traded.

Wall Street Analyst Weigh In

Several analysts have commented on HOFT shares. Wall Street Zen upgraded shares of Hooker Furnishings from a “sell” rating to a “hold” rating in a research note on Sunday, April 19th. Weiss Ratings cut Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Finally, Zacks Research upgraded Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Hooker Furnishings has a consensus rating of “Reduce”.

Hooker Furnishings Price Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.60 and a current ratio of 3.37. The company’s 50-day simple moving average is $12.97 and its 200 day simple moving average is $12.59.

Hooker Furnishings (NASDAQ:HOFT) last posted its earnings results on Thursday, April 16th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $66.98 million for the quarter, compared to the consensus estimate of $74.89 million. Hooker Furnishings had a negative net margin of 8.84% and a negative return on equity of 0.71%. Research analysts anticipate that Hooker Furnishings Corp. will post 0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Hooker Furnishings

Several institutional investors have recently modified their holdings of the stock. Pzena Investment Management LLC lifted its stake in shares of Hooker Furnishings by 4.2% in the 3rd quarter. Pzena Investment Management LLC now owns 1,416,002 shares of the company’s stock valued at $14,372,000 after purchasing an additional 57,276 shares during the last quarter. Donald Smith & CO. Inc. lifted its stake in shares of Hooker Furnishings by 7.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,066,754 shares of the company’s stock valued at $12,044,000 after purchasing an additional 70,681 shares during the last quarter. Vanguard Group Inc. boosted its stake in Hooker Furnishings by 0.7% during the third quarter. Vanguard Group Inc. now owns 595,587 shares of the company’s stock worth $6,045,000 after buying an additional 4,138 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Hooker Furnishings by 35.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 366,761 shares of the company’s stock worth $4,141,000 after buying an additional 95,127 shares during the period. Finally, First Eagle Investment Management LLC increased its position in Hooker Furnishings by 15.0% during the third quarter. First Eagle Investment Management LLC now owns 364,973 shares of the company’s stock valued at $3,704,000 after acquiring an additional 47,559 shares during the last quarter. 73.60% of the stock is owned by institutional investors.

About Hooker Furnishings

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.