Hooker Furniture Co. (NASDAQ:HOFT) Given Average Recommendation of “Strong Buy” by Analysts

Hooker Furniture Co. (NASDAQ:HOFT) has received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Zacks has also given Hooker Furniture an industry rank of 188 out of 256 based on the ratings given to related companies.

HOFT has been the topic of several analyst reports. BidaskClub cut shares of Hooker Furniture from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. ValuEngine cut shares of Hooker Furniture from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Finally, TheStreet raised shares of Hooker Furniture from a “c+” rating to a “b” rating in a research note on Tuesday, April 30th.

In other news, Director W Christopher Beeler, Jr. acquired 3,500 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were bought at an average price of $28.32 per share, for a total transaction of $99,120.00. Following the completion of the purchase, the director now directly owns 35,876 shares of the company’s stock, valued at approximately $1,016,008.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Henry G. Williamson, Jr. acquired 8,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were purchased at an average price of $28.13 per share, for a total transaction of $225,040.00. Following the purchase, the director now directly owns 38,941 shares of the company’s stock, valued at $1,095,410.33. The disclosure for this purchase can be found here. Insiders have bought 14,000 shares of company stock worth $395,545 in the last quarter. Insiders own 2.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Punch & Associates Investment Management Inc. boosted its stake in Hooker Furniture by 1.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 399,421 shares of the company’s stock worth $11,515,000 after purchasing an additional 4,432 shares during the period. Granite Investment Partners LLC increased its stake in shares of Hooker Furniture by 87.8% in the first quarter. Granite Investment Partners LLC now owns 17,684 shares of the company’s stock worth $509,000 after buying an additional 8,270 shares during the last quarter. AJO LP bought a new stake in Hooker Furniture during the first quarter valued at $245,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Hooker Furniture by 2,049.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 11,350 shares of the company’s stock valued at $327,000 after acquiring an additional 10,822 shares during the period. Finally, Royce & Associates LP boosted its holdings in shares of Hooker Furniture by 0.8% during the first quarter. Royce & Associates LP now owns 1,749,500 shares of the company’s stock valued at $50,438,000 after acquiring an additional 14,000 shares during the period. Hedge funds and other institutional investors own 86.61% of the company’s stock.

Shares of HOFT opened at $19.39 on Wednesday. The company has a quick ratio of 2.01, a current ratio of 3.65 and a debt-to-equity ratio of 0.11. Hooker Furniture has a 52-week low of $19.15 and a 52-week high of $49.85. The stock has a market capitalization of $228.51 million, a PE ratio of 6.60 and a beta of 0.64.

Hooker Furniture (NASDAQ:HOFT) last released its quarterly earnings results on Wednesday, June 12th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.06). Hooker Furniture had a return on equity of 13.77% and a net margin of 5.13%. The firm had revenue of $135.52 million for the quarter.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 30th. Shareholders of record on Monday, June 17th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.09%.

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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