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

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

Hooker Furnishings Stock Up 0.2 %

Shares of HOFT opened at $18.18 on Tuesday. Hooker Furnishings has a 52 week low of $14.73 and a 52 week high of $27.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.31 and a current ratio of 3.98. The firm has a market capitalization of $193.80 million, a P/E ratio of 19.98, a P/E/G ratio of 0.91 and a beta of 1.06. The company has a 50-day simple moving average of $23.19 and a 200-day simple moving average of $21.94.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HOFT. Quantbot Technologies LP raised its position in Hooker Furnishings by 595.0% in the first quarter. Quantbot Technologies LP now owns 1,390 shares of the company’s stock worth $26,000 after purchasing an additional 1,190 shares in the last quarter. UBS Group AG raised its position in Hooker Furnishings by 584.8% in the third quarter. UBS Group AG now owns 4,499 shares of the company’s stock worth $60,000 after purchasing an additional 3,842 shares in the last quarter. West Tower Group LLC acquired a new position in Hooker Furnishings in the fourth quarter worth about $64,000. Barclays PLC raised its position in Hooker Furnishings by 763.3% in the first quarter. Barclays PLC now owns 3,643 shares of the company’s stock worth $67,000 after purchasing an additional 3,221 shares in the last quarter. Finally, California State Teachers Retirement System acquired a new position in Hooker Furnishings in the second quarter worth about $68,000. Institutional investors and hedge funds own 73.63% of the company’s stock.

About Hooker Furnishings

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.