Hooker Furnishings (NASDAQ:HOFT) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Hooker Furnishings Trading Down 0.7 %

NASDAQ:HOFT opened at $18.06 on Tuesday. Hooker Furnishings has a 52-week low of $14.73 and a 52-week high of $27.15. The company has a quick ratio of 2.31, a current ratio of 3.98 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $23.08 and a 200-day simple moving average of $21.92. The company has a market capitalization of $192.52 million, a PE ratio of 19.85, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06.

Hooker Furnishings Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a $0.23 dividend. The ex-dividend date was Friday, March 15th. This represents a $0.92 annualized dividend and a dividend yield of 5.09%. Hooker Furnishings’s dividend payout ratio is presently 101.10%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP grew its holdings in Hooker Furnishings by 595.0% during the 1st quarter. Quantbot Technologies LP now owns 1,390 shares of the company’s stock valued at $26,000 after buying an additional 1,190 shares during the last quarter. UBS Group AG raised its holdings in shares of Hooker Furnishings by 584.8% in the third quarter. UBS Group AG now owns 4,499 shares of the company’s stock worth $60,000 after acquiring an additional 3,842 shares during the last quarter. West Tower Group LLC purchased a new stake in shares of Hooker Furnishings in the fourth quarter valued at $64,000. Barclays PLC boosted its stake in shares of Hooker Furnishings by 763.3% during the first quarter. Barclays PLC now owns 3,643 shares of the company’s stock valued at $67,000 after acquiring an additional 3,221 shares during the last quarter. Finally, California State Teachers Retirement System purchased a new stake in Hooker Furnishings during the 2nd quarter worth about $68,000. 73.63% of the stock is currently owned by institutional investors and hedge funds.

Hooker Furnishings Company Profile

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.