Hooker Furnishings (NASDAQ:HOFT) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Hooker Furnishings Corp. (NASDAQ:HOFT) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.09 and traded as high as $13.52. Hooker Furnishings shares last traded at $13.31, with a volume of 22,490 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HOFT shares. Wall Street Zen raised shares of Hooker Furnishings from a “sell” rating to a “hold” rating in a research note on Sunday, April 19th. Zacks Research raised shares of Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Hooker Furnishings in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Hooker Furnishings Stock Up 3.5%

The company has a quick ratio of 1.60, a current ratio of 3.37 and a debt-to-equity ratio of 0.02. The firm has a market cap of $143.48 million, a PE ratio of -5.24, a P/E/G ratio of 1.37 and a beta of 1.22. The firm’s 50 day moving average is $13.01 and its 200-day moving average is $12.09.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings data on Thursday, April 16th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $66.98 million for the quarter, compared to the consensus estimate of $74.89 million. Hooker Furnishings had a negative net margin of 8.84% and a negative return on equity of 0.71%. As a group, equities research analysts expect that Hooker Furnishings Corp. will post 0.67 earnings per share for the current fiscal year.

Hooker Furnishings Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.46 dividend on an annualized basis and a yield of 3.5%. Hooker Furnishings’s dividend payout ratio (DPR) is currently -18.11%.

Hedge Funds Weigh In On Hooker Furnishings

Large investors have recently bought and sold shares of the stock. Cerity Partners LLC purchased a new position in Hooker Furnishings during the fourth quarter worth approximately $117,000. Osaic Holdings Inc. raised 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. LPL Financial LLC raised its stake in Hooker Furnishings by 16.6% during the fourth quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock worth $132,000 after purchasing an additional 1,660 shares during the period. Strs Ohio purchased a new position in Hooker Furnishings during the first quarter worth approximately $124,000. Finally, Jane Street Group LLC purchased a new position in Hooker Furnishings during the first quarter worth approximately $146,000. Hedge funds and other institutional investors own 73.60% of the company’s stock.

Hooker Furnishings Company Profile

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.