Hooker Furnishings (NASDAQ:HOFT) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Hooker Furnishings (NASDAQ:HOFT) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Several other research analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hooker Furnishings in a report on Thursday, January 22nd. Zacks Research upgraded shares of Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Hooker Furnishings currently has an average rating of “Reduce”.

Hooker Furnishings Trading Down 3.5%

Shares of Hooker Furnishings stock opened at $14.78 on Friday. The company has a market capitalization of $159.33 million, a P/E ratio of -5.26, a P/E/G ratio of 1.44 and a beta of 1.34. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.35 and a current ratio of 2.67. The company has a fifty day moving average of $13.63 and a 200 day moving average of $11.72. Hooker Furnishings has a fifty-two week low of $7.34 and a fifty-two week high of $15.99.

Hooker Furnishings Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a $0.115 dividend. The ex-dividend date was Monday, March 16th. This represents a $0.46 annualized dividend and a yield of 3.1%. Hooker Furnishings’s payout ratio is presently -16.37%.

Institutional Trading of Hooker Furnishings

Several hedge funds have recently bought and sold shares of the stock. Gate City Capital Management LLC purchased a new stake in Hooker Furnishings in the 4th quarter worth $2,472,000. Charles Schwab Investment Management Inc. lifted its stake in 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. Donald Smith & CO. Inc. lifted its stake in Hooker Furnishings by 7.1% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,066,754 shares of the company’s stock worth $12,044,000 after purchasing an additional 70,681 shares in the last quarter. Cerity Partners LLC purchased a new stake in Hooker Furnishings in the 4th quarter worth $117,000. Finally, LPL Financial LLC lifted its stake in Hooker Furnishings by 16.6% in 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. Hedge funds and other institutional investors own 73.60% of the company’s stock.

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.