Hooker Furnishings (NASDAQ:HOFT) Shares Cross Above 200-Day Moving Average – Here’s Why

Hooker Furnishings Corp. (NASDAQ:HOFT)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.74 and traded as high as $15.39. Hooker Furnishings shares last traded at $15.24, with a volume of 29,727 shares changing hands.

Wall Street Analyst Weigh In

HOFT has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Hooker Furnishings in a research note on Thursday, January 22nd. Zacks Research lowered Hooker Furnishings from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Hooker Furnishings presently has an average rating of “Sell”.

Hooker Furnishings Stock Up 5.7%

The stock has a market capitalization of $164.29 million, a P/E ratio of -5.42, a PEG ratio of 1.17 and a beta of 1.39. The stock has a 50 day moving average price of $12.17 and a 200-day moving average price of $10.74. 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 released its earnings results on Thursday, December 11th. The company reported $0.39 earnings per share for the quarter, beating 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 company had revenue of $70.73 million during the quarter, compared to analyst estimates of $85.50 million. As a group, research analysts expect that Hooker Furnishings Corp. will post -0.44 EPS for the current fiscal year.

Hooker Furnishings Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Sunday, December 21st were issued a $0.115 dividend. The ex-dividend date was Friday, December 19th. This represents a $0.46 annualized dividend and a dividend yield of 3.0%. Hooker Furnishings’s dividend payout ratio (DPR) is currently -16.37%.

Institutional Investors Weigh In On Hooker Furnishings

Large investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its position in shares of Hooker Furnishings by 940.0% in the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock valued at $110,000 after acquiring an additional 9,400 shares during the period. Cerity Partners LLC purchased a new position in Hooker Furnishings during the 4th quarter valued at about $117,000. Strs Ohio purchased a new position in Hooker Furnishings during the 1st quarter valued at about $124,000. LPL Financial LLC raised its position in Hooker Furnishings by 16.6% during the 4th quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock valued at $132,000 after purchasing an additional 1,660 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Hooker Furnishings in the 1st quarter worth approximately $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.