Hooker Furniture (NASDAQ:HOFT) Lifted to “B” at TheStreet

Hooker Furniture (NASDAQ:HOFT) was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating in a note issued to investors on Tuesday, April 30th, TheStreetRatingsTable reports.

Other analysts have also recently issued reports about the stock. BidaskClub cut shares of Hooker Furniture from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. ValuEngine cut shares of Hooker Furniture from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd.

HOFT stock traded down $0.10 during mid-day trading on Tuesday, hitting $28.31. The company had a trading volume of 57,709 shares, compared to its average volume of 46,693. The stock has a market cap of $337.53 million, a P/E ratio of 8.47 and a beta of 0.56. Hooker Furniture has a 12-month low of $24.85 and a 12-month high of $49.85. 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 (NASDAQ:HOFT) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.05 by $0.19. The business had revenue of $200.48 million for the quarter. Hooker Furniture had a net margin of 5.83% and a return on equity of 16.08%.

In other news, Director Henry G. Williamson, Jr. acquired 8,000 shares of Hooker Furniture stock in a transaction that occurred on Monday, April 22nd. The shares were bought at an average cost of $28.13 per share, with a total value of $225,040.00. Following the transaction, the director now directly owns 38,941 shares of the company’s stock, valued at approximately $1,095,410.33. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director W Christopher Beeler, Jr. bought 3,500 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was 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 in the company, valued at $1,016,008.32. The disclosure for this purchase can be found here. Insiders purchased a total of 14,000 shares of company stock worth $395,545 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Hooker Furniture by 841.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,054 shares of the company’s stock worth $28,000 after acquiring an additional 942 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of Hooker Furniture during the first quarter valued at approximately $29,000. Legal & General Group Plc boosted its stake in shares of Hooker Furniture by 24.4% during the fourth quarter. Legal & General Group Plc now owns 2,198 shares of the company’s stock valued at $58,000 after purchasing an additional 431 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in shares of Hooker Furniture by 26.0% during the fourth quarter. AdvisorNet Financial Inc now owns 2,368 shares of the company’s stock valued at $62,000 after purchasing an additional 489 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Hooker Furniture by 953.0% during the first quarter. BNP Paribas Arbitrage SA now owns 2,422 shares of the company’s stock valued at $70,000 after purchasing an additional 2,192 shares in the last quarter. Institutional investors and hedge funds own 85.40% of the company’s stock.

Hooker Furniture Company Profile

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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