Hooker Furnishings (NASDAQ:HOFT) Stock Rating Lowered by StockNews.com

Hooker Furnishings (NASDAQ:HOFT) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Hooker Furnishings Stock Performance

Shares of HOFT stock opened at $13.07 on Friday. Hooker Furnishings has a 1-year low of $12.06 and a 1-year high of $24.82. The company has a current ratio of 3.16, a quick ratio of 1.76 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $139.98 million, a price-to-earnings ratio of -14.36, a P/E/G ratio of 0.85 and a beta of 1.25. The stock’s fifty day simple moving average is $13.25 and its 200-day simple moving average is $15.57.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings results on Thursday, December 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.22). Hooker Furnishings had a negative net margin of 2.46% and a negative return on equity of 3.51%. On average, sell-side analysts predict that Hooker Furnishings will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Hooker Furnishings

In other Hooker Furnishings news, Director Paulette Garafalo sold 2,489 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $17.10, for a total value of $42,561.90. Following the transaction, the director now owns 20,783 shares in the company, valued at $355,389.30. The trade was a 10.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Hooker Furnishings

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of Hooker Furnishings by 107.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,688 shares of the company’s stock worth $790,000 after acquiring an additional 22,635 shares in the last quarter. Barclays PLC boosted its stake in shares of Hooker Furnishings by 270.4% during the 3rd quarter. Barclays PLC now owns 15,463 shares of the company’s stock worth $279,000 after acquiring an additional 11,288 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Hooker Furnishings by 9.5% during the 3rd quarter. Stifel Financial Corp now owns 44,003 shares of the company’s stock worth $796,000 after acquiring an additional 3,827 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Hooker Furnishings by 26.4% during the 3rd quarter. HighTower Advisors LLC now owns 19,004 shares of the company’s stock worth $344,000 after acquiring an additional 3,966 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Hooker Furnishings by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 241,310 shares of the company’s stock worth $4,364,000 after acquiring an additional 2,493 shares in the last quarter. Institutional investors own 73.63% of the company’s stock.

About Hooker Furnishings

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.