Hooker Furniture (HOFT) Sets New 1-Year High at $51.20

Shares of Hooker Furniture Corporation (NASDAQ:HOFT) reached a new 52-week high on Tuesday . The company traded as high as $51.20 and last traded at $50.95, with a volume of 57700 shares. The stock had previously closed at $49.25.

Separately, BidaskClub cut shares of Hooker Furniture from a “buy” rating to a “hold” rating in a report on Friday, August 18th.

The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08 and a quick ratio of 2.47. The company has a market capitalization of $570.63, a PE ratio of 18.73 and a beta of 0.64.

Hooker Furniture (NASDAQ:HOFT) last announced its earnings results on Thursday, September 7th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $156.31 million for the quarter, compared to analyst estimates of $148.56 million. Hooker Furniture had a net margin of 4.94% and a return on equity of 15.28%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share.

In other news, insider Michael W. Delgatti sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $43.03, for a total transaction of $430,300.00. Following the transaction, the insider now directly owns 28,425 shares in the company, valued at $1,223,127.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael W. Delgatti sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $43.58, for a total transaction of $217,900.00. Following the transaction, the insider now owns 33,525 shares in the company, valued at $1,461,019.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,607 shares of company stock worth $2,506,409. Insiders own 2.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. purchased a new position in shares of Hooker Furniture during the second quarter worth approximately $293,000. Vanguard Group Inc. grew its position in Hooker Furniture by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 459,203 shares of the company’s stock valued at $14,258,000 after buying an additional 35,153 shares during the last quarter. Alliancebernstein L.P. purchased a new position in Hooker Furniture in the 2nd quarter valued at $267,000. Wells Fargo & Company MN grew its position in Hooker Furniture by 22.4% in the 2nd quarter. Wells Fargo & Company MN now owns 43,391 shares of the company’s stock valued at $1,785,000 after buying an additional 7,949 shares during the last quarter. Finally, Eqis Capital Management Inc. purchased a new position in Hooker Furniture in the 3rd quarter valued at $381,000. Institutional investors and hedge funds own 86.46% of the company’s stock.

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About Hooker Furniture

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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