Shares of Hooker Furniture Corp. (NASDAQ:HOFT) shot up 3.2% during mid-day trading on Friday . The company traded as high as $23.57 and last traded at $23.38, with a volume of 70,163 shares trading hands. The stock had previously closed at $22.66.

A number of brokerages have recently issued reports on HOFT. Sidoti began coverage on shares of Hooker Furniture Corp. in a report on Friday. They set a “buy” rating on the stock. Zacks Investment Research downgraded shares of Hooker Furniture Corp. from a “hold” rating to a “strong sell” rating in a report on Monday, June 13th. Finally, BB&T Corp. downgraded shares of Hooker Furniture Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, March 23rd. They noted that the move was a valuation call.

The company has a market cap of $269.48 million and a PE ratio of 16.93. The stock’s 50 day moving average price is $23.00 and its 200 day moving average price is $27.01.

Hooker Furniture Corp. (NASDAQ:HOFT) last released its quarterly earnings data on Tuesday, June 7th. The company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.24. The company had revenue of $121.80 million for the quarter, compared to the consensus estimate of $124.80 million. During the same period in the previous year, the business posted $0.32 earnings per share. Hooker Furniture Corp.’s revenue for the quarter was up 99.8% compared to the same quarter last year. On average, analysts forecast that Hooker Furniture Corp. will post $1.93 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 16th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Tuesday, June 14th.

A number of hedge funds have added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. raised its stake in Hooker Furniture Corp. by 16.8% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 46,145 shares of the company’s stock worth $1,165,000 after buying an additional 6,645 shares during the period. Hodges Capital Management Inc. raised its stake in Hooker Furniture Corp. by 57.3% in the fourth quarter. Hodges Capital Management Inc. now owns 51,970 shares of the company’s stock worth $1,312,000 after buying an additional 18,940 shares during the period. Morgan Stanley raised its stake in Hooker Furniture Corp. by 70.1% in the fourth quarter. Morgan Stanley now owns 70,698 shares of the company’s stock worth $1,784,000 after buying an additional 29,137 shares during the period. Finally, Royce & Associates LLC raised its stake in Hooker Furniture Corp. by 16.9% in the fourth quarter. Royce & Associates LLC now owns 834,000 shares of the company’s stock worth $21,050,000 after buying an additional 120,594 shares during the period.

Hooker Furniture Corporation is a home furnishings marketing, design and logistics company offering sourcing of residential casegoods and upholstery, as well as domestically-produced custom leather and fabric-upholstered furniture. The Company’s segments are casegoods furniture, upholstered furniture and all other.

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