Hooker Furniture (HOFT) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Hooker Furniture (NASDAQ:HOFT) from a sell rating to a hold rating in a research report report published on Monday, April 1st, BidAskClub reports.

Shares of HOFT traded up $0.92 during trading hours on Monday, hitting $29.03. The stock had a trading volume of 64,129 shares, compared to its average volume of 45,099. The company has a current ratio of 3.65, a quick ratio of 1.93 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $342.12 million, a P/E ratio of 8.41 and a beta of 0.56. Hooker Furniture has a 12-month low of $24.85 and a 12-month high of $49.85.

Hooker Furniture (NASDAQ:HOFT) last released its quarterly earnings data on Tuesday, April 16th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.05 by $0.19. Hooker Furniture had a return on equity of 16.08% and a net margin of 5.83%. The company had revenue of $200.48 million for the quarter.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, March 15th. This represents a $0.60 annualized dividend and a dividend yield of 2.07%.

In other news, Director Henry G. Williamson, Jr. purchased 8,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was acquired at an average cost of $28.13 per share, for a total transaction of $225,040.00. Following the completion of the purchase, the director now owns 38,941 shares of the company’s stock, valued at $1,095,410.33. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Paul B. Toms, Jr. purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was purchased at an average price of $27.98 per share, with a total value of $27,980.00. Following the completion of the purchase, the chief executive officer now directly owns 76,856 shares of the company’s stock, valued at approximately $2,150,430.88. The disclosure for this purchase can be found here. Insiders have bought 14,000 shares of company stock valued at $395,545 over the last 90 days. Insiders own 2.50% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Noked Capital LTD acquired a new position in Hooker Furniture in the fourth quarter valued at approximately $263,000. NWQ Investment Management Company LLC boosted its stake in Hooker Furniture by 4.5% in the third quarter. NWQ Investment Management Company LLC now owns 1,454,712 shares of the company’s stock valued at $43,161,000 after acquiring an additional 63,170 shares during the period. Panagora Asset Management Inc. raised its holdings in shares of Hooker Furniture by 66.3% during the third quarter. Panagora Asset Management Inc. now owns 49,829 shares of the company’s stock valued at $1,684,000 after buying an additional 19,868 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Hooker Furniture by 4.9% during the third quarter. BlackRock Inc. now owns 808,713 shares of the company’s stock valued at $27,333,000 after buying an additional 37,435 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Hooker Furniture by 34.1% during the third quarter. First Trust Advisors LP now owns 17,912 shares of the company’s stock valued at $605,000 after buying an additional 4,556 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

Hooker Furniture Company Profile

Hooker Furniture Corporation, together with its subsidiaries, designs, manufactures, imports, and markets residential household furniture products in the United States. It 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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