Hooker Furnishings (NASDAQ:HOFT) Stock Crosses Above 200 Day Moving Average – What’s Next?

Hooker Furnishings Corp. (NASDAQ:HOFT)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.28 and traded as high as $11.01. Hooker Furnishings shares last traded at $11.01, with a volume of 182,627 shares.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hooker Furnishings in a report on Wednesday, October 8th. Zacks Research lowered Hooker Furnishings from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 26th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Hooker Furnishings Stock Performance

The stock has a market capitalization of $118.69 million, a P/E ratio of -3.92 and a beta of 1.41. The company has a current ratio of 2.67, a quick ratio of 1.37 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $9.99 and a two-hundred day moving average price of $10.28.

Hooker Furnishings (NASDAQ:HOFT) last released its earnings results on Thursday, December 11th. The company reported $0.39 EPS for the quarter, topping the consensus estimate 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 business had revenue of $70.73 million during the quarter, compared to analysts’ expectations of $85.50 million. On average, equities analysts forecast that Hooker Furnishings Corp. will post -0.44 earnings per share for the current year.

Hooker Furnishings Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Sunday, December 21st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, December 19th. Hooker Furnishings’s payout ratio is presently -32.74%.

Institutional Investors Weigh In On Hooker Furnishings

A number of large investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. acquired a new position in shares of Hooker Furnishings during the second quarter valued at about $3,619,000. RBF Capital LLC acquired a new position in Hooker Furnishings during the 2nd quarter worth approximately $2,807,000. Azarias Capital Management L.P. boosted its holdings in Hooker Furnishings by 33.6% in the third quarter. Azarias Capital Management L.P. now owns 473,179 shares of the company’s stock worth $4,803,000 after acquiring an additional 118,989 shares in the last quarter. CSM Advisors LLC acquired a new stake in Hooker Furnishings in the second quarter valued at approximately $1,169,000. Finally, First Eagle Investment Management LLC increased its holdings in shares of Hooker Furnishings by 35.8% during the second quarter. First Eagle Investment Management LLC now owns 317,414 shares of the company’s stock valued at $3,358,000 after acquiring an additional 83,761 shares in the last quarter. 73.60% of the stock is currently owned by institutional investors and hedge funds.

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.