StockNews.com Upgrades Hooker Furnishings (NASDAQ:HOFT) to "Hold"

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

Hooker Furnishings Price Performance

Shares of HOFT traded down $0.04 during mid-day trading on Thursday, reaching $13.01. The company had a trading volume of 35,093 shares, compared to its average volume of 51,891. Hooker Furnishings has a twelve month low of $12.06 and a twelve month high of $24.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.76. The company's 50-day moving average is $13.59 and its 200-day moving average is $15.62. The company has a market capitalization of $139.34 million, a P/E ratio of -14.30, a P/E/G ratio of 0.85 and a beta of 1.25.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last issued its earnings results on Thursday, December 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts anticipate that Hooker Furnishings will post -0.44 EPS for the current year.

Hooker Furnishings Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a $0.23 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 7.07%. Hooker Furnishings's payout ratio is presently -101.10%.

Insider Transactions at Hooker Furnishings

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

Institutional Investors Weigh In On Hooker Furnishings

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its holdings in Hooker Furnishings by 225.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company's stock valued at $43,000 after purchasing an additional 2,130 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Hooker Furnishings by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 6,227 shares of the company's stock valued at $87,000 after purchasing an additional 1,356 shares in the last quarter. Oak Hill Wealth Advisors LLC acquired a new stake in Hooker Furnishings during the 4th quarter valued at $145,000. Baron Wealth Management LLC acquired a new stake in Hooker Furnishings during the 3rd quarter valued at $215,000. Finally, Deutsche Bank AG increased its holdings in Hooker Furnishings by 97.5% during the 4th quarter. Deutsche Bank AG now owns 14,494 shares of the company's stock valued at $203,000 after purchasing an additional 7,157 shares in the last quarter. 73.63% of the stock is owned by institutional investors and hedge funds.

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.