Hooker Furniture Co. (NASDAQ:HOFT) Given Average Rating of “Strong Buy” by Analysts

Shares of Hooker Furniture Co. (NASDAQ:HOFT) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Analysts have set a twelve-month consensus price objective of $24.00 for the company, according to Zacks. Zacks has also given Hooker Furniture an industry rank of 23 out of 254 based on the ratings given to its competitors.

Several analysts have issued reports on the company. Sidoti boosted their target price on Hooker Furniture from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. ValuEngine cut Hooker Furniture from a “hold” rating to a “sell” rating in a research report on Monday, June 15th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank grew its position in shares of Hooker Furniture by 3.2% in the fourth quarter. Swiss National Bank now owns 22,600 shares of the company’s stock valued at $581,000 after purchasing an additional 700 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Hooker Furniture by 29.9% in the first quarter. BNP Paribas Arbitrage SA now owns 3,603 shares of the company’s stock valued at $56,000 after purchasing an additional 829 shares in the last quarter. Rhumbline Advisers grew its position in Hooker Furniture by 6.3% during the first quarter. Rhumbline Advisers now owns 19,473 shares of the company’s stock worth $304,000 after buying an additional 1,150 shares in the last quarter. Wells Fargo & Company MN grew its position in Hooker Furniture by 1.1% during the first quarter. Wells Fargo & Company MN now owns 331,915 shares of the company’s stock worth $5,181,000 after buying an additional 3,583 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Hooker Furniture by 6.6% during the first quarter. Victory Capital Management Inc. now owns 61,235 shares of the company’s stock worth $956,000 after buying an additional 3,778 shares in the last quarter. Institutional investors own 90.02% of the company’s stock.

Hooker Furniture stock traded up $0.44 during mid-day trading on Friday, reaching $18.66. The stock had a trading volume of 144,796 shares, compared to its average volume of 80,764. The firm has a market capitalization of $216.32 million, a PE ratio of 15.81 and a beta of 0.73. The stock’s 50-day simple moving average is $16.84 and its 200-day simple moving average is $19.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.58 and a current ratio of 4.43. Hooker Furniture has a fifty-two week low of $12.30 and a fifty-two week high of $26.07.

Hooker Furniture (NASDAQ:HOFT) last issued its earnings results on Friday, June 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.11). The firm had revenue of $104.60 million during the quarter. Hooker Furniture had a net margin of 2.42% and a return on equity of 5.19%.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, June 15th.

About Hooker Furniture

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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