Hooker Furniture (HOFT) Rating Lowered to Sell at BidaskClub

Hooker Furniture (NASDAQ:HOFT) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, BidAskClub reports.

HOFT has been the topic of several other reports. ValuEngine lowered shares of Hooker Furniture from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. TheStreet raised shares of Hooker Furniture from a “c+” rating to a “b” rating in a report on Tuesday, April 30th.

Shares of HOFT stock opened at $28.31 on Friday. The company has a market cap of $337.53 million, a P/E ratio of 8.47 and a beta of 0.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 3.65. Hooker Furniture has a 52-week low of $24.85 and a 52-week high of $49.85.

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

In other news, Director Henry G. Williamson, Jr. purchased 8,000 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were acquired at an average cost of $28.13 per share, with a total value of $225,040.00. Following the completion of the acquisition, the director now owns 38,941 shares of the company’s stock, valued at $1,095,410.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Paul B. Toms, Jr. purchased 1,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was purchased at an average cost of $27.98 per share, for a total transaction of $27,980.00. Following the completion of the acquisition, 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 acquired 14,000 shares of company stock worth $395,545 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP grew its holdings in Hooker Furniture by 0.8% in the first quarter. Royce & Associates LP now owns 1,749,500 shares of the company’s stock worth $50,438,000 after purchasing an additional 14,000 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Hooker Furniture by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 989,760 shares of the company’s stock worth $26,070,000 after purchasing an additional 12,827 shares during the last quarter. BlackRock Inc. grew its holdings in Hooker Furniture by 5.1% in the first quarter. BlackRock Inc. now owns 866,755 shares of the company’s stock worth $24,989,000 after purchasing an additional 42,102 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Hooker Furniture by 0.9% during the third quarter. Vanguard Group Inc now owns 528,035 shares of the company’s stock worth $17,848,000 after buying an additional 4,496 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Hooker Furniture by 0.9% during the third quarter. Vanguard Group Inc. now owns 528,035 shares of the company’s stock worth $17,848,000 after buying an additional 4,496 shares during the period. 85.40% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Article: Closed-End Mutual Funds

Receive News & Ratings for Hooker Furniture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hooker Furniture and related companies with MarketBeat.com's FREE daily email newsletter.