BidaskClub Downgrades Hooker Furniture (HOFT) to Sell

BidaskClub lowered shares of Hooker Furniture (NASDAQ:HOFT) from a hold rating to a sell rating in a research report released on Friday.

Shares of Hooker Furniture stock opened at $38.20 on Friday. The company has a market cap of $449.32, a P/E ratio of 14.75 and a beta of 0.47. Hooker Furniture has a twelve month low of $35.90 and a twelve month high of $52.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.07 and a current ratio of 3.53.

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Hooker Furniture (NASDAQ:HOFT) last issued its quarterly earnings data on Thursday, April 5th. The company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.12. The company had revenue of $175.52 million for the quarter, compared to the consensus estimate of $171.78 million. Hooker Furniture had a net margin of 4.60% and a return on equity of 14.39%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 earnings per share.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Monday, March 19th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, March 16th. This represents a $0.56 dividend on an annualized basis and a yield of 1.47%.

A number of institutional investors have recently modified their holdings of HOFT. Nationwide Fund Advisors lifted its position in Hooker Furniture by 40.5% during the third quarter. Nationwide Fund Advisors now owns 44,701 shares of the company’s stock valued at $2,134,000 after purchasing an additional 12,875 shares during the period. Macquarie Group Ltd. bought a new position in Hooker Furniture during the third quarter valued at approximately $251,000. Wells Fargo & Company MN lifted its position in Hooker Furniture by 30.3% during the third quarter. Wells Fargo & Company MN now owns 56,551 shares of the company’s stock valued at $2,700,000 after purchasing an additional 13,160 shares during the period. Dimensional Fund Advisors LP lifted its position in Hooker Furniture by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 973,225 shares of the company’s stock valued at $46,472,000 after purchasing an additional 4,091 shares during the period. Finally, OxFORD Asset Management LLP lifted its position in Hooker Furniture by 40.8% during the third quarter. OxFORD Asset Management LLP now owns 32,273 shares of the company’s stock valued at $1,547,000 after purchasing an additional 9,353 shares during the period. Institutional investors own 87.53% of the company’s stock.

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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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