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

StockNews.com cut shares of Hooker Furnishings (NASDAQ:HOFT) from a hold rating to a sell rating in a report released on Friday morning.

Hooker Furnishings Stock Performance

Shares of HOFT stock opened at $9.16 on Friday. The firm has a market capitalization of $98.10 million, a price-to-earnings ratio of -10.07, a PEG ratio of 0.85 and a beta of 1.23. The stock has a fifty day moving average of $12.22 and a 200 day moving average of $14.81. Hooker Furnishings has a 52 week low of $8.03 and a 52 week high of $23.32. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.23 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.92 annualized dividend and a dividend yield of 10.04%. Hooker Furnishings’s payout ratio is -101.10%.

Hedge Funds Weigh In On Hooker Furnishings

A number of institutional investors and hedge funds have recently made changes to their positions in HOFT. Tower Research Capital LLC TRC increased its position 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 buying an additional 2,130 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Hooker Furnishings by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 6,227 shares of the company’s stock valued at $87,000 after acquiring an additional 1,356 shares in the last quarter. Oak Hill Wealth Advisors LLC bought a new position in shares of Hooker Furnishings during the fourth quarter valued at $145,000. Deutsche Bank AG raised its position in shares of Hooker Furnishings by 97.5% in the 4th quarter. Deutsche Bank AG now owns 14,494 shares of the company’s stock worth $203,000 after purchasing an additional 7,157 shares during the last quarter. Finally, Barclays PLC boosted its stake in Hooker Furnishings by 270.4% in 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 in the last quarter. Institutional investors own 73.63% of the company’s stock.

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.