Hooker Furnishings (NASDAQ:HOFT) Raised to “Strong-Buy” at Zacks Research

Hooker Furnishings (NASDAQ:HOFT) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. Wall Street Zen upgraded shares of Hooker Furnishings from a “hold” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Hooker Furnishings Stock Down 5.2%

Shares of NASDAQ:HOFT opened at $15.21 on Monday. The company has a market cap of $163.36 million, a PE ratio of -7.07, a P/E/G ratio of 1.47 and a beta of 1.19. The company’s 50-day moving average price is $13.16 and its 200 day moving average price is $12.78. Hooker Furnishings has a fifty-two week low of $8.61 and a fifty-two week high of $16.41.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings data on Thursday, June 11th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.17. The firm had revenue of $69.45 million for the quarter, compared to the consensus estimate of $66.31 million. Hooker Furnishings had a negative net margin of 7.90% and a positive return on equity of 1.61%. As a group, equities analysts anticipate that Hooker Furnishings will post 0.78 EPS for the current year.

Institutional Trading of Hooker Furnishings

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC raised its position in shares of Hooker Furnishings by 4.2% during the 3rd quarter. Pzena Investment Management LLC now owns 1,416,002 shares of the company’s stock worth $14,372,000 after buying an additional 57,276 shares in the last quarter. Donald Smith & CO. Inc. raised its position in shares of Hooker Furnishings by 7.1% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,066,754 shares of the company’s stock worth $12,044,000 after buying an additional 70,681 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Hooker Furnishings by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 595,587 shares of the company’s stock worth $6,045,000 after purchasing an additional 4,138 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Hooker Furnishings by 35.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 366,761 shares of the company’s stock worth $4,141,000 after purchasing an additional 95,127 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in shares of Hooker Furnishings by 15.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 364,973 shares of the company’s stock worth $3,704,000 after purchasing an additional 47,559 shares in the last quarter. 73.60% of the stock is currently owned by institutional investors.

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.