Hooker Furnishings (NASDAQ:HOFT) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Hooker Furnishings Corp. (NASDAQ:HOFT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.70 and traded as high as $14.27. Hooker Furnishings shares last traded at $13.88, with a volume of 62,001 shares.

Wall Street Analysts Forecast Growth

HOFT has been the subject of several recent research reports. Zacks Research downgraded 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 report on Tuesday, July 14th. Finally, Wall Street Zen raised shares of Hooker Furnishings from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Hooker Furnishings currently has a consensus rating of “Reduce”.

Hooker Furnishings Price Performance

The stock’s fifty day simple moving average is $14.61 and its 200-day simple moving average is $13.72. The stock has a market cap of $147.49 million, a P/E ratio of -6.39, a PEG ratio of 1.29 and a beta of 1.11.

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

Hooker Furnishings Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 19th were given a $0.115 dividend. The ex-dividend date was Thursday, June 18th. This represents a $0.46 annualized dividend and a yield of 3.4%. Hooker Furnishings’s dividend payout ratio (DPR) is currently -21.40%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HOFT. Empowered Funds LLC grew its holdings in Hooker Furnishings by 7.2% in the 1st quarter. Empowered Funds LLC now owns 55,319 shares of the company’s stock worth $555,000 after buying an additional 3,696 shares in the last quarter. Jane Street Group LLC acquired a new stake in Hooker Furnishings in the first quarter worth about $146,000. Strs Ohio acquired a new stake in shares of Hooker Furnishings in the 1st quarter worth approximately $124,000. Marshall Wace LLP acquired a new stake in Hooker Furnishings in the second quarter worth approximately $495,000. Finally, Jump Financial LLC bought a new position in Hooker Furnishings during the second quarter valued at about $202,000. 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.