Hooker Furnishings (NASDAQ:HOFT) Downgraded by StockNews.com to Sell

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

Hooker Furnishings Trading Up 3.7 %

HOFT opened at $9.01 on Friday. Hooker Furnishings has a 12-month low of $7.34 and a 12-month high of $19.79. 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 stock has a market capitalization of $96.50 million, a PE ratio of -9.90, a P/E/G ratio of 0.85 and a beta of 1.23. The firm’s fifty day moving average price is $11.03 and its 200 day moving average price is $14.00.

Hooker Furnishings (NASDAQ:HOFT) last issued its earnings results on Thursday, April 17th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.15). The company had revenue of $104.46 million during the quarter, compared to analyst estimates of $101.25 million. Hooker Furnishings had a negative net margin of 2.46% and a negative return on equity of 3.51%. During the same quarter last year, the company posted $0.06 EPS. As a group, research analysts expect that Hooker Furnishings will post -0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HOFT. JPMorgan Chase & Co. raised its stake in Hooker Furnishings by 107.5% during 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 period. Pzena Investment Management LLC raised its position in shares of Hooker Furnishings by 3.8% during the 4th quarter. Pzena Investment Management LLC now owns 1,335,593 shares of the company’s stock worth $18,712,000 after purchasing an additional 49,212 shares during the period. Barclays PLC raised its position in shares of Hooker Furnishings by 270.4% during 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 during the period. Stifel Financial Corp lifted its holdings in shares of 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 during the last quarter. Finally, First Eagle Investment Management LLC boosted its position in Hooker Furnishings by 95.5% during the 4th quarter. First Eagle Investment Management LLC now owns 113,909 shares of the company’s stock valued at $1,596,000 after purchasing an additional 55,629 shares during the period. 73.63% of the stock is owned by institutional investors and hedge funds.

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.