Hooker Furniture (NASDAQ:HOFT) Cut to “Sell” at ValuEngine

ValuEngine lowered shares of Hooker Furniture (NASDAQ:HOFT) from a hold rating to a sell rating in a report published on Thursday morning, ValuEngine reports.

A number of other analysts also recently weighed in on HOFT. BidaskClub downgraded Hooker Furniture from a hold rating to a sell rating in a research note on Thursday, February 13th. Sidoti decreased their price target on Hooker Furniture from $37.00 to $34.00 and set a buy rating on the stock in a research note on Monday, March 2nd.

Shares of Hooker Furniture stock traded up $1.37 during trading on Thursday, reaching $13.68. The company’s stock had a trading volume of 59,800 shares, compared to its average volume of 74,365. The company has a quick ratio of 1.99, a current ratio of 3.66 and a debt-to-equity ratio of 0.22. Hooker Furniture has a 12-month low of $12.30 and a 12-month high of $31.22. The company has a market capitalization of $145.73 million, a P/E ratio of 6.55 and a beta of 0.88. The business has a 50 day moving average price of $17.27 and a 200-day moving average price of $21.99.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were issued a dividend of $0.16 per share. The ex-dividend date was Monday, March 16th. This represents a $0.64 annualized dividend and a yield of 4.68%.

A number of hedge funds have recently modified their holdings of the stock. Swiss National Bank raised its holdings in Hooker Furniture by 3.2% during the fourth quarter. Swiss National Bank now owns 22,600 shares of the company’s stock worth $581,000 after purchasing an additional 700 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Hooker Furniture by 9.0% during the fourth quarter. Victory Capital Management Inc. now owns 57,457 shares of the company’s stock worth $1,476,000 after purchasing an additional 4,738 shares during the last quarter. UBS Group AG raised its holdings in Hooker Furniture by 48.3% during the fourth quarter. UBS Group AG now owns 16,167 shares of the company’s stock worth $416,000 after purchasing an additional 5,265 shares during the last quarter. Geode Capital Management LLC raised its holdings in Hooker Furniture by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 157,665 shares of the company’s stock worth $4,050,000 after purchasing an additional 6,063 shares during the last quarter. Finally, State Street Corp raised its holdings in Hooker Furniture by 2.8% during the fourth quarter. State Street Corp now owns 237,785 shares of the company’s stock worth $6,109,000 after purchasing an additional 6,493 shares during the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

About Hooker Furniture

Hooker Furniture Corporation, together with its subsidiaries, designs, manufactures, imports, and markets residential household, hospitality, and contract furniture in the United States. The company operates through Hooker Branded, Home Meridian, and All Other segments. The Hooker Branded segment offers a range of design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand name; and imported upholstered furniture.

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