Hooker Furnishings (NASDAQ:HOFT) Rating Lowered to “Hold” at Zacks Research

Hooker Furnishings (NASDAQ:HOFT) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

HOFT has been the topic of several other research reports. Wall Street Zen upgraded Hooker Furnishings from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Weiss Ratings cut Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

Hooker Furnishings Stock Performance

Hooker Furnishings stock opened at $14.87 on Tuesday. The company’s 50 day simple moving average is $14.41 and its 200-day simple moving average is $13.55. Hooker Furnishings has a 1 year low of $8.61 and a 1 year high of $18.09. The company has a market capitalization of $159.70 million, a price-to-earnings ratio of -6.92, a price-to-earnings-growth ratio of 1.33 and a beta of 1.11.

Hooker Furnishings (NASDAQ:HOFT) last posted its quarterly earnings data on Thursday, June 11th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.17. Hooker Furnishings had a negative net margin of 7.90% and a positive return on equity of 1.61%. The firm had revenue of $69.45 million during the quarter, compared to analysts’ expectations of $66.31 million. Equities analysts expect that Hooker Furnishings will post 0.77 earnings per share for the current year.

Hedge Funds Weigh In On Hooker Furnishings

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC increased its stake in shares of Hooker Furnishings by 7.2% during the first quarter. Empowered Funds LLC now owns 55,319 shares of the company’s stock worth $555,000 after buying an additional 3,696 shares during the period. Jane Street Group LLC purchased a new position in Hooker Furnishings in the first quarter worth approximately $146,000. Strs Ohio acquired a new position in Hooker Furnishings during the 1st quarter worth approximately $124,000. Marshall Wace LLP purchased a new stake in shares of Hooker Furnishings in the 2nd quarter valued at approximately $495,000. Finally, Jump Financial LLC acquired a new stake in shares of Hooker Furnishings in the 2nd quarter valued at $202,000. Hedge funds and other institutional investors own 73.60% of the company’s stock.

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.