Hooker Furniture (HOFT) Upgraded to “Hold” by BidaskClub

Hooker Furniture (NASDAQ:HOFT) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Wednesday, March 14th.

Shares of HOFT stock traded down $1.05 during midday trading on Wednesday, reaching $39.35. 65,517 shares of the stock were exchanged, compared to its average volume of 73,417. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.07 and a current ratio of 3.53. Hooker Furniture has a 1 year low of $35.90 and a 1 year high of $52.75. The company has a market capitalization of $475.20, a price-to-earnings ratio of 15.60 and a beta of 0.47.

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Hooker Furniture (NASDAQ:HOFT) last issued its quarterly earnings results on Thursday, April 5th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $175.52 million for the quarter, compared to analysts’ expectations of $171.78 million. Hooker Furniture had a return on equity of 14.39% and a net margin of 4.60%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 EPS.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Hooker Furniture by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,287 shares of the company’s stock valued at $383,000 after purchasing an additional 187 shares during the last quarter. Yorktown Management & Research Co Inc boosted its holdings in shares of Hooker Furniture by 41.2% during the 4th quarter. Yorktown Management & Research Co Inc now owns 6,000 shares of the company’s stock valued at $255,000 after purchasing an additional 1,750 shares during the last quarter. First Interstate Bank lifted its holdings in shares of Hooker Furniture by 34.1% in the 4th quarter. First Interstate Bank now owns 7,153 shares of the company’s stock valued at $304,000 after acquiring an additional 1,820 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Hooker Furniture by 1,417.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,217 shares of the company’s stock valued at $154,000 after acquiring an additional 3,005 shares during the last quarter. Finally, Citadel Advisors LLC lifted its holdings in shares of Hooker Furniture by 40.1% in the 4th quarter. Citadel Advisors LLC now owns 10,721 shares of the company’s stock valued at $455,000 after acquiring an additional 3,071 shares during the last quarter. 87.52% of the stock is owned by institutional investors and hedge funds.

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Hooker Furniture Company Profile

Hooker Furniture Corporation is a home furnishings marketing, design and logistics company offering sourcing of residential casegoods and upholstery, as well as domestically-produced leather and fabric-upholstered furniture. The Company operates through three segments: casegoods furniture, upholstered furniture and all other.

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