Hooker Furnishings (NASDAQ:HOFT) Upgraded at Zacks Research

Hooker Furnishings (NASDAQ:HOFT) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Hooker Furnishings in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce”.

Hooker Furnishings Stock Up 0.8%

Shares of NASDAQ:HOFT opened at $11.22 on Thursday. The firm has a market capitalization of $120.95 million, a PE ratio of -3.99 and a beta of 1.41. The business has a 50 day simple moving average of $10.23 and a two-hundred day simple moving average of $10.29. Hooker Furnishings has a 1 year low of $7.34 and a 1 year high of $14.23. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.67 and a quick ratio of 1.35.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings results on Thursday, December 11th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.54. Hooker Furnishings had a negative return on equity of 1.07% and a negative net margin of 8.71%.The firm had revenue of $70.73 million during the quarter, compared to analyst estimates of $85.50 million. On average, equities analysts predict that Hooker Furnishings will post -0.44 EPS for the current year.

Institutional Investors Weigh In On Hooker Furnishings

Large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Hooker Furnishings by 250.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 110,471 shares of the company’s stock valued at $1,109,000 after purchasing an additional 78,940 shares in the last quarter. Nuveen LLC purchased a new stake in Hooker Furnishings during the first quarter worth $227,000. Paradigm Capital Management Inc. NY purchased a new stake in Hooker Furnishings during the first quarter worth $803,000. Empowered Funds LLC boosted its position in Hooker Furnishings by 7.2% during the 1st quarter. Empowered Funds LLC now owns 55,319 shares of the company’s stock valued at $555,000 after acquiring an additional 3,696 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Hooker Furnishings in the 1st quarter valued at $146,000. 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.