Hooker Furnishings (NASDAQ:HOFT) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a sell rating to a hold rating in a research report report published on Saturday morning.

Hooker Furnishings Trading Up 2.9 %

HOFT stock opened at $8.49 on Friday. Hooker Furnishings has a 52 week low of $7.77 and a 52 week high of $20.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.76 and a current ratio of 3.16. The company’s 50-day simple moving average is $11.60 and its 200 day simple moving average is $14.40. The company has a market capitalization of $90.93 million, a PE ratio of -9.33, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23.

Hooker Furnishings Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.23 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 10.84%. Hooker Furnishings’s payout ratio is -101.10%.

Institutional Investors Weigh In On Hooker Furnishings

Large investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its holdings in Hooker Furnishings by 26.4% in the 3rd quarter. HighTower Advisors LLC now owns 19,004 shares of the company’s stock valued at $344,000 after acquiring an additional 3,966 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Hooker Furnishings by 9.5% during 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. State Street Corp increased its position 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 purchasing an additional 8,117 shares during the period. Barclays PLC raised its stake in Hooker Furnishings by 270.4% in the third quarter. Barclays PLC now owns 15,463 shares of the company’s stock valued at $279,000 after purchasing an additional 11,288 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Hooker Furnishings by 1.0% during the third 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 during the period. Institutional investors and hedge funds 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.