Hooker Furnishings (NASDAQ:HOFT) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a buy rating to a strong-buy rating in a research report released on Saturday morning,Wall Street Zen reports.

HOFT has been the topic of several other reports. Zacks Research cut shares of Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Weiss Ratings downgraded Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

Hooker Furnishings Price Performance

Shares of HOFT opened at $12.83 on Friday. The firm has a market capitalization of $137.79 million, a PE ratio of -7.59, a PEG ratio of 1.19 and a beta of 1.14. The company’s 50-day moving average is $14.15 and its 200-day moving average is $13.80. Hooker Furnishings has a fifty-two week low of $8.61 and a fifty-two week high of $18.09.

Hooker Furnishings (NASDAQ:HOFT) last posted its earnings results on Thursday, June 11th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.17. Hooker Furnishings had a negative net margin of 7.90% and a positive return on equity of 1.61%. The company had revenue of $69.45 million during the quarter, compared to analysts’ expectations of $66.31 million. Analysts predict that Hooker Furnishings will post 0.77 earnings per share for the current fiscal year.

Hooker Furnishings Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Hooker Furnishings’s dividend payout ratio (DPR) is currently -21.40%.

Institutional Trading of Hooker Furnishings

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Hooker Furnishings by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 120,645 shares of the company’s stock valued at $1,363,000 after purchasing an additional 1,100 shares in the last quarter. Royal Bank of Canada increased its position in Hooker Furnishings by 6.0% during the 1st quarter. Royal Bank of Canada now owns 21,383 shares of the company’s stock worth $276,000 after purchasing an additional 1,218 shares in the last quarter. LPL Financial LLC increased 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 worth $132,000 after purchasing an additional 1,660 shares in the last quarter. Empowered Funds LLC lifted its stake in Hooker Furnishings by 10.6% in the 1st quarter. Empowered Funds LLC now owns 28,696 shares of the company’s stock valued at $370,000 after purchasing an additional 2,747 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Hooker Furnishings in the second quarter valued at approximately $73,000. Institutional investors and hedge funds own 73.60% of the company’s stock.

Key Headlines Impacting Hooker Furnishings

Here are the key news stories impacting Hooker Furnishings this week:

• Positive Sentiment: Profitability sharply improved. Hooker reported fiscal second-quarter EPS of $0.15, versus analysts’ expected loss of $0.02 and a $0.31 loss in the year-ago quarter. The company also reported a profitable first half, signaling progress in its turnaround. Hooker Furnishings Reports Profitable Quarter and First Half
• Positive Sentiment: Management highlighted potential growth initiatives. The company is launching its Margaritaville furniture line, which could help utilize fixed costs and expand its presence in higher-value categories. The earnings call also pointed to resilient operations and a developing turnaround. Hooker Furniture Earnings Call Signals Resilient Turnaround
• Neutral Sentiment: Sales were broadly stable but slightly below forecasts. Quarterly revenue was $63.25 million, compared with the consensus estimate of $63.76 million. This suggests that the earnings beat was driven more by cost and margin factors than by stronger demand. Hooker Furnishings Earnings Results
• Negative Sentiment: Underlying operating conditions remain challenging. Analysts noted that a $4.3 million tariff refund contributed materially to gross-profit improvement, making some of the margin recovery potentially nonrecurring. Promotional activity, weak discretionary spending and macroeconomic uncertainty continue to pressure sales volumes and profitability. Hooker Furnishings: Macro Still An Issue For Discretionary Spend

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.