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

Hooker Furnishings (NASDAQ:HOFT) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

A number of other research firms also recently weighed in on HOFT. Weiss Ratings downgraded shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Zacks Research downgraded shares of Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Hooker Furnishings Price Performance

Shares of HOFT opened at $13.44 on Friday. 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 $143.67 million, a price-to-earnings ratio of -7.95, a price-to-earnings-growth ratio of 0.96 and a beta of 1.14. The business has a 50-day moving average of $13.90 and a 200-day moving average of $13.76.

Institutional Investors Weigh In On Hooker Furnishings

A number of hedge funds have recently added to or reduced their stakes in the business. Pzena Investment Management LLC acquired a new position in shares of Hooker Furnishings during the 2nd quarter valued at $27,505,000. BlackRock Inc. bought a new position in Hooker Furnishings during the second quarter worth $4,156,000. Ancora Advisors LLC acquired a new stake in Hooker Furnishings in the second quarter worth $1,501,000. Donald Smith & CO. Inc. acquired a new stake in Hooker Furnishings in the second quarter worth $16,982,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in Hooker Furnishings in the first quarter valued at $665,000. 73.60% of the stock is currently owned by institutional investors.

About Hooker Furnishings

Hooker Furnishings Corporation is a residential and hospitality furniture company headquartered in Martinsville, Virginia. Founded in 1924, the company designs, sources, manufactures and markets furniture and home furnishings for a range of interior styles and customer needs.

Its product offerings include wood and upholstered furniture for living rooms, bedrooms, dining rooms, home offices and outdoor spaces. The company markets products under brands that include Hooker Furniture, Sam Moore, Sunset West and other portfolio brands, serving both the residential and hospitality markets.

Hooker Furnishings sells its products through independent furniture retailers, specialty stores, interior designers, hospitality businesses and e-commerce channels.