Hooker Furnishings (NASDAQ:HOFT) Rating Lowered to Hold at StockNews.com

Hooker Furnishings (NASDAQ:HOFT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Hooker Furnishings Stock Performance

Shares of HOFT stock opened at $18.18 on Tuesday. The company has a market cap of $193.80 million, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 0.91 and a beta of 1.06. The stock has a 50 day simple moving average of $23.19 and a 200-day simple moving average of $21.94. Hooker Furnishings has a 12-month low of $14.73 and a 12-month high of $27.15. The company has a current ratio of 3.98, a quick ratio of 2.31 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On Hooker Furnishings

A number of large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in shares of Hooker Furnishings by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 929,031 shares of the company’s stock worth $16,899,000 after buying an additional 27,647 shares in the last quarter. BlackRock Inc. increased its stake in Hooker Furnishings by 138.8% in the 2nd quarter. BlackRock Inc. now owns 790,770 shares of the company’s stock valued at $14,756,000 after purchasing an additional 459,632 shares in the last quarter. Vanguard Group Inc. increased its stake in Hooker Furnishings by 28.7% in the 3rd quarter. Vanguard Group Inc. now owns 695,581 shares of the company’s stock valued at $13,529,000 after purchasing an additional 155,186 shares in the last quarter. Azarias Capital Management L.P. increased its stake in Hooker Furnishings by 2.0% in the 4th quarter. Azarias Capital Management L.P. now owns 507,784 shares of the company’s stock valued at $13,243,000 after purchasing an additional 10,181 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in Hooker Furnishings by 4.4% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 334,359 shares of the company’s stock valued at $6,082,000 after purchasing an additional 14,100 shares in the last quarter. 73.63% of the stock is owned by hedge funds and other institutional investors.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. The company's Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.