Hooker Furniture (NASDAQ:HOFT) Downgraded by BidaskClub

BidaskClub downgraded shares of Hooker Furniture (NASDAQ:HOFT) from a strong-buy rating to a buy rating in a report released on Friday morning, BidAskClub reports.

Separately, ValuEngine upgraded Hooker Furniture from a hold rating to a buy rating in a research note on Wednesday, October 30th.

Shares of HOFT stock traded down $0.04 during trading hours on Friday, hitting $23.88. The company had a trading volume of 881 shares, compared to its average volume of 93,749. Hooker Furniture has a 12 month low of $17.09 and a 12 month high of $32.59. The firm has a market capitalization of $280.21 million, a price-to-earnings ratio of 9.28 and a beta of 0.44. The firm’s fifty day moving average is $22.41 and its 200 day moving average is $22.48. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 3.77.

Hooker Furniture (NASDAQ:HOFT) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.15). Hooker Furniture had a net margin of 4.57% and a return on equity of 11.54%. The company had revenue of $152.25 million during the quarter.

Institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Hooker Furniture by 4.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,787 shares of the company’s stock worth $615,000 after acquiring an additional 1,195 shares in the last quarter. Aperio Group LLC acquired a new position in shares of Hooker Furniture in the 2nd quarter worth approximately $241,000. Royal Bank of Canada boosted its holdings in shares of Hooker Furniture by 9.9% in the 2nd quarter. Royal Bank of Canada now owns 25,031 shares of the company’s stock worth $517,000 after acquiring an additional 2,264 shares in the last quarter. Atria Investments LLC acquired a new position in shares of Hooker Furniture in the 2nd quarter worth approximately $230,000. Finally, Mork Capital Management LLC acquired a new position in shares of Hooker Furniture in the 2nd quarter worth approximately $825,000. 85.12% of the stock is currently owned by institutional investors and hedge funds.

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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