Hooker Furnishings (NASDAQ:HOFT) Upgraded by StockNews.com to Hold Rating

Hooker Furnishings (NASDAQ:HOFT) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

Hooker Furnishings Price Performance

Shares of Hooker Furnishings stock opened at $13.25 on Wednesday. The business has a 50 day moving average of $16.60 and a 200 day moving average of $15.96. Hooker Furnishings has a 52 week low of $13.00 and a 52 week high of $25.80. The company has a market cap of $141.91 million, a PE ratio of -14.56 and a beta of 1.26. The company has a quick ratio of 1.46, a current ratio of 3.16 and a debt-to-equity ratio of 0.10.

Insider Buying and Selling at Hooker Furnishings

In other news, Director Paulette Garafalo sold 2,489 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $17.10, for a total value of $42,561.90. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Hooker Furnishings

Several hedge funds have recently bought and sold shares of HOFT. JPMorgan Chase & Co. grew its stake in shares of Hooker Furnishings by 107.5% in the third quarter. JPMorgan Chase & Co. now owns 43,688 shares of the company’s stock worth $790,000 after acquiring an additional 22,635 shares during the last quarter. Barclays PLC raised its holdings in 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. Geode Capital Management LLC lifted its stake in shares of Hooker Furnishings by 1.0% in the third quarter. Geode Capital Management LLC now owns 241,310 shares of the company’s stock worth $4,364,000 after buying an additional 2,493 shares in the last quarter. State Street Corp lifted its stake in shares of Hooker Furnishings by 4.9% in the third quarter. State Street Corp now owns 172,370 shares of the company’s stock worth $3,116,000 after buying an additional 8,117 shares in the last quarter. Finally, Stifel Financial Corp increased its position 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 valued at $796,000 after acquiring an additional 3,827 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.