Hooker Furnishings (NASDAQ:HOFT) Downgraded by StockNews.com to Hold

Hooker Furnishings (NASDAQ:HOFTGet Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Hooker Furnishings Trading Up 1.6 %

HOFT stock opened at $24.01 on Friday. Hooker Furnishings has a 52 week low of $14.73 and a 52 week high of $27.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.31 and a current ratio of 3.71. The company’s 50-day simple moving average is $23.96 and its 200 day simple moving average is $21.81. The company has a market capitalization of $256.19 million, a PE ratio of -32.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06.

Institutional Investors Weigh In On Hooker Furnishings

A number of large investors have recently added to or reduced their stakes in the stock. Azarias Capital Management L.P. lifted its holdings in shares of Hooker Furnishings by 50.4% during the 3rd quarter. Azarias Capital Management L.P. now owns 497,603 shares of the company’s stock worth $9,678,000 after acquiring an additional 166,858 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Hooker Furnishings in the third quarter valued at about $330,000. SG Americas Securities LLC acquired a new position in Hooker Furnishings during the 3rd quarter worth approximately $119,000. Russell Investments Group Ltd. grew its stake in shares of Hooker Furnishings by 74.7% during the second quarter. Russell Investments Group Ltd. now owns 69,423 shares of the company’s stock worth $1,295,000 after buying an additional 29,695 shares during the last quarter. Finally, Strs Ohio increased its holdings in shares of Hooker Furnishings by 44.6% during the third quarter. Strs Ohio now owns 28,200 shares of the company’s stock worth $548,000 after buying an additional 8,700 shares in the last quarter. Institutional investors and hedge funds own 73.63% of the company’s stock.

About Hooker Furnishings

(Get Free Report)

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. The company's 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.

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