StockNews.com Upgrades Hooker Furnishings (NASDAQ:HOFT) to “Buy”

Hooker Furnishings (NASDAQ:HOFT – Get Rating) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Hooker Furnishings Trading Up 2.7 %

Shares of HOFT stock opened at $21.10 on Thursday. Hooker Furnishings has a 1 year low of $12.90 and a 1 year high of $22.10. The firm has a market capitalization of $239.06 million, a PE ratio of 26.05 and a beta of 0.94. The stock has a fifty day moving average of $20.42 and a two-hundred day moving average of $17.40. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.55 and a current ratio of 3.80.

Hooker Furnishings (NASDAQ:HOFT – Get Rating) last posted its quarterly earnings data on Thursday, December 8th. The company reported $0.42 earnings per share for the quarter. Hooker Furnishings had a net margin of 1.64% and a return on equity of 3.66%. The business had revenue of $151.58 million during the quarter.

Hedge Funds Weigh In On Hooker Furnishings

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pzena Investment Management LLC grew its position in Hooker Furnishings by 9.3% in the third quarter. Pzena Investment Management LLC now owns 1,626,610 shares of the company’s stock worth $21,943,000 after buying an additional 138,823 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Hooker Furnishings by 121.1% during the second quarter. Goldman Sachs Group Inc. now owns 231,002 shares of the company’s stock valued at $3,592,000 after purchasing an additional 126,532 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Hooker Furnishings by 144.3% in the 2nd quarter. Renaissance Technologies LLC now owns 187,765 shares of the company’s stock valued at $2,920,000 after purchasing an additional 110,900 shares during the period. Ancora Advisors LLC purchased a new position in Hooker Furnishings in the 4th quarter worth about $1,835,000. Finally, Millennium Management LLC raised its holdings in Hooker Furnishings by 115.4% during the 2nd quarter. Millennium Management LLC now owns 130,185 shares of the company’s stock worth $2,024,000 after buying an additional 69,753 shares during the period. 69.13% of the stock is owned by institutional investors.

About Hooker Furnishings

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Hooker Furnishings Corp. is a home furnishings marketing and logistics company. It offers worldwide sourcing of residential casegoods and upholstery, as well as domestically-produced custom leather and fabric-upholstered furniture. The company operates its business through the following segments: Hooker Branded, Home Meridian, Domestic Upholstery, and Other.