Hooker Furnishings (NASDAQ:HOFT) Rating Lowered to "Sell" at StockNews.com

StockNews.com downgraded shares of Hooker Furnishings (NASDAQ:HOFT - Free Report) from a hold rating to a sell rating in a research note released on Friday morning.

Hooker Furnishings Stock Down 3.8 %

Shares of NASDAQ HOFT traded down $0.50 during mid-day trading on Friday, reaching $12.58. 49,374 shares of the company were exchanged, compared to its average volume of 35,446. The firm has a 50-day moving average of $13.25 and a 200 day moving average of $15.58. Hooker Furnishings has a 1 year low of $12.06 and a 1 year high of $24.82. The company has a quick ratio of 1.76, a current ratio of 3.16 and a debt-to-equity ratio of 0.10. The stock has a market cap of $134.68 million, a price-to-earnings ratio of -13.82, a P/E/G ratio of 0.85 and a beta of 1.25.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last released its quarterly earnings results on Thursday, December 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.22). Hooker Furnishings had a negative net margin of 2.46% and a negative return on equity of 3.51%. On average, research analysts expect that Hooker Furnishings will post -0.44 earnings per share for the current year.

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Insider Activity

In related news, Director Paulette Garafalo sold 2,489 shares of the company's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $17.10, for a total transaction of $42,561.90. Following the transaction, the director now directly owns 20,783 shares of the company's stock, valued at $355,389.30. This represents a 10.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Hooker Furnishings

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in Hooker Furnishings by 107.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,688 shares of the company's stock worth $790,000 after purchasing an additional 22,635 shares in the last quarter. Barclays PLC raised its holdings in shares of Hooker Furnishings by 270.4% in the third quarter. Barclays PLC now owns 15,463 shares of the company's stock worth $279,000 after buying an additional 11,288 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Hooker Furnishings by 9.5% during the third quarter. Stifel Financial Corp now owns 44,003 shares of the company's stock worth $796,000 after buying an additional 3,827 shares during the period. HighTower Advisors LLC grew its holdings in shares of Hooker Furnishings by 26.4% during the third quarter. HighTower Advisors LLC now owns 19,004 shares of the company's stock valued at $344,000 after buying an additional 3,966 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Hooker Furnishings by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 241,310 shares of the company's stock valued at $4,364,000 after acquiring an additional 2,493 shares during the period. Institutional investors and hedge funds own 73.63% of the company's stock.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.