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

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

Hooker Furnishings Trading Up 0.7 %

Shares of Hooker Furnishings stock opened at $13.22 on Wednesday. The firm has a market cap of $141.59 million, a PE ratio of -14.53, a P/E/G ratio of 0.85 and a beta of 1.25. The company has a quick ratio of 1.76, a current ratio of 3.16 and a debt-to-equity ratio of 0.10. Hooker Furnishings has a fifty-two week low of $12.06 and a fifty-two week high of $25.80. The business’s fifty day moving average is $13.99 and its two-hundred day moving average is $15.68.

Hooker Furnishings (NASDAQ:HOFT) last posted its quarterly 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 net margin of 2.46% and a negative return on equity of 3.51%. Analysts anticipate that Hooker Furnishings will post -0.44 earnings per share for the current year.

Insider Activity 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 stock was sold at an average price of $17.10, for a total value of $42,561.90. Following the completion of the sale, the director now owns 20,783 shares of the company’s stock, valued at $355,389.30. This represents a 10.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by insiders.

Institutional Trading of Hooker Furnishings

A number of hedge funds have recently made changes to their positions in the company. Copeland Capital Management LLC purchased a new position in Hooker Furnishings in the 3rd quarter valued at about $37,000. Wells Fargo & Company MN boosted its stake in shares of 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 buying an additional 1,356 shares during the last quarter. Oak Hill Wealth Advisors LLC purchased a new position in shares of Hooker Furnishings during the 4th quarter valued at approximately $145,000. Baron Wealth Management LLC bought a new stake in shares of Hooker Furnishings in the third quarter worth $215,000. Finally, Barclays PLC grew its holdings in Hooker Furnishings by 13.0% during the 4th quarter. Barclays PLC now owns 17,478 shares of the company’s stock worth $244,000 after acquiring an additional 2,015 shares in the last quarter. Hedge funds and other 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.