Hooker Furniture (NASDAQ:HOFT) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Saturday.

Shares of Hooker Furniture (NASDAQ:HOFT) opened at $37.05 on Friday. Hooker Furniture has a one year low of $29.75 and a one year high of $52.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.07 and a current ratio of 3.53. The company has a market cap of $435.78, a price-to-earnings ratio of 14.03 and a beta of 0.48.

Hooker Furniture (NASDAQ:HOFT) last announced its quarterly earnings results on Thursday, December 7th. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.04). Hooker Furniture had a return on equity of 14.89% and a net margin of 4.96%. The company had revenue of $157.90 million for the quarter, compared to analyst estimates of $160.02 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. Hooker Furniture’s revenue was up 8.7% compared to the same quarter last year.

In other Hooker Furniture news, insider Michael W. Delgatti sold 6,847 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $42.53, for a total transaction of $291,202.91. Following the transaction, the insider now directly owns 17,972 shares of the company’s stock, valued at approximately $764,349.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.90% of the company’s stock.

A number of institutional investors have recently modified their holdings of HOFT. Legal & General Group Plc grew its position in Hooker Furniture by 40.0% during the 2nd quarter. Legal & General Group Plc now owns 2,424 shares of the company’s stock worth $100,000 after purchasing an additional 693 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Hooker Furniture by 1,417.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,217 shares of the company’s stock worth $154,000 after purchasing an additional 3,005 shares during the last quarter. Yorktown Management & Research Co Inc purchased a new position in Hooker Furniture during the 3rd quarter worth $203,000. Gotham Asset Management LLC purchased a new position in Hooker Furniture during the 2nd quarter worth $229,000. Finally, Macquarie Group Ltd. purchased a new position in Hooker Furniture during the 3rd quarter worth $251,000. 85.22% of the stock is currently owned by institutional investors.

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Hooker Furniture Company Profile

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

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