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

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Wednesday.

Hooker Furnishings Price Performance

Shares of HOFT stock traded down $0.10 during trading hours on Wednesday, hitting $13.12. 20,851 shares of the company's stock were exchanged, compared to its average volume of 47,721. The company has a market capitalization of $140.52 million, a PE ratio of -14.42, a PEG ratio of 0.85 and a beta of 1.25. Hooker Furnishings has a 12-month low of $12.06 and a 12-month high of $25.80. The business's 50 day simple moving average is $13.92 and its 200-day simple moving average is $15.67. The company has a current ratio of 3.16, a quick ratio of 1.76 and a debt-to-equity ratio of 0.10.

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

Insider Activity

In other news, Director Paulette Garafalo sold 2,489 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $17.10, for a total transaction of $42,561.90. Following the sale, the director now owns 20,783 shares in the company, valued at approximately $355,389.30. The trade was a 10.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.70% of the company's stock.

Institutional Trading of Hooker Furnishings

A number of hedge funds have recently modified their holdings of 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 boosted its stake in Hooker Furnishings by 270.4% in the 3rd quarter. Barclays PLC now owns 15,463 shares of the company's stock worth $279,000 after purchasing an additional 11,288 shares in the last quarter. Stifel Financial Corp boosted its stake in Hooker Furnishings by 9.5% in the 3rd quarter. Stifel Financial Corp now owns 44,003 shares of the company's stock worth $796,000 after purchasing an additional 3,827 shares in the last quarter. Geode Capital Management LLC boosted its stake in Hooker Furnishings by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 241,310 shares of the company's stock worth $4,364,000 after purchasing an additional 2,493 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in Hooker Furnishings by 26.4% in the 3rd quarter. HighTower Advisors LLC now owns 19,004 shares of the company's stock worth $344,000 after purchasing an additional 3,966 shares in the last quarter. Institutional investors own 73.63% of the company's stock.

About Hooker Furnishings

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.