Hooker Furnishings (NASDAQ:HOFT) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Wall Street Zen raised Hooker Furnishings from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Weiss Ratings downgraded shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday. One equities 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, Hooker Furnishings presently has a consensus rating of “Reduce”.

Hooker Furnishings Stock Performance

HOFT stock opened at $14.87 on Tuesday. Hooker Furnishings has a fifty-two week low of $8.61 and a fifty-two week 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. The business’s 50 day moving average price is $14.41 and its two-hundred day moving average price is $13.55.

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

Hooker Furnishings Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 19th were paid a dividend of $0.115 per share. The ex-dividend date was Thursday, June 18th. This represents a $0.46 dividend on an annualized basis and a yield of 3.1%. Hooker Furnishings’s payout ratio is presently -21.40%.

Institutional Investors Weigh In On Hooker Furnishings

A number of institutional investors have recently modified their holdings of HOFT. Fifth Third Wealth Advisors LLC purchased a new position in shares of Hooker Furnishings in the 1st quarter worth about $665,000. Gate City Capital Management LLC purchased a new stake in Hooker Furnishings during the 4th quarter valued at about $2,472,000. Donald Smith & CO. Inc. increased its stake in 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 purchasing an additional 70,681 shares in the last quarter. Peapod Lane Capital LLC raised its holdings in Hooker Furnishings by 5.0% in the fourth quarter. Peapod Lane Capital LLC now owns 185,982 shares of the company’s stock worth $2,100,000 after buying an additional 8,899 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in Hooker Furnishings by 10.6% in the first quarter. Empowered Funds LLC now owns 28,696 shares of the company’s stock worth $370,000 after buying an additional 2,747 shares during the last quarter. 73.60% of the stock is owned by hedge funds and other institutional investors.

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.