Hooker Furnishings (NASDAQ:HOFT) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Hooker Furnishings Corp. (NASDAQ:HOFT) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.45 and traded as high as $12.03. Hooker Furnishings shares last traded at $11.95, with a volume of 24,519 shares.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HOFT. Zacks Research raised shares of Hooker Furnishings from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Wall Street Zen raised shares of Hooker Furnishings from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Hooker Furnishings in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Hooker Furnishings Stock Down 0.8%

The stock has a market capitalization of $125.89 million, a price-to-earnings ratio of -4.16, a P/E/G ratio of 0.96 and a beta of 1.35. The business has a 50-day moving average of $13.51 and a 200-day moving average of $11.46. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.35 and a current ratio of 2.67.

Hooker Furnishings Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, March 16th. Hooker Furnishings’s dividend payout ratio (DPR) is -16.37%.

Institutional Investors Weigh In On Hooker Furnishings

Several institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. increased its stake in Hooker Furnishings by 940.0% during the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock worth $110,000 after purchasing an additional 9,400 shares during the period. Cerity Partners LLC acquired a new stake in Hooker Furnishings during the 4th quarter worth approximately $117,000. Strs Ohio purchased a new stake in shares of Hooker Furnishings during the first quarter worth $124,000. LPL Financial LLC raised its stake in shares of Hooker Furnishings by 16.6% in the fourth quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock valued at $132,000 after acquiring an additional 1,660 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Hooker Furnishings in the first quarter valued at $146,000. Hedge funds and other institutional investors own 73.60% of the company’s stock.

About Hooker Furnishings

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.