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

Hooker Furnishings (NASDAQ:HOFT) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Hooker Furnishings Stock Down 3.7 %

Shares of NASDAQ:HOFT opened at $16.93 on Thursday. The business’s 50-day moving average is $17.34 and its 200-day moving average is $16.06. Hooker Furnishings has a 1 year low of $13.09 and a 1 year high of $27.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.46. The company has a market capitalization of $181.32 million, a price-to-earnings ratio of -18.60 and a beta of 1.22.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its stake in 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 buying an additional 11,288 shares during the period. Geode Capital Management LLC raised its stake in Hooker Furnishings by 1.0% during the 3rd 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 during the period. State Street Corp raised its stake in Hooker Furnishings by 4.9% during the 3rd 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 during the period. Stifel Financial Corp raised its stake in 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 buying an additional 3,827 shares during the period. Finally, HighTower Advisors LLC increased its holdings in Hooker Furnishings by 26.4% during the 3rd quarter. HighTower Advisors LLC now owns 19,004 shares of the company’s stock worth $344,000 after purchasing an additional 3,966 shares in the last quarter. 73.63% of the stock is owned by institutional investors and hedge funds.

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.