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

Hooker Furnishings (NASDAQ:HOFT) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Hooker Furnishings Stock Up 1.6 %

HOFT traded up $0.14 during trading on Friday, hitting $9.16. 129,434 shares of the company’s stock traded hands, compared to its average volume of 41,014. The stock has a market capitalization of $98.10 million, a price-to-earnings ratio of -10.07, a PEG ratio of 0.85 and a beta of 1.16. The company’s 50 day simple moving average is $12.22 and its two-hundred day simple moving average is $14.85. Hooker Furnishings has a 12-month low of $8.04 and a 12-month high of $23.73. The company has a current ratio of 3.16, a quick ratio of 1.76 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On Hooker Furnishings

Several hedge funds and other institutional investors have recently bought and sold shares of HOFT. Tower Research Capital LLC TRC raised its holdings in shares of Hooker Furnishings by 225.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company’s stock valued at $43,000 after purchasing an additional 2,130 shares during the last quarter. Wells Fargo & Company MN grew its position in Hooker Furnishings by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 6,227 shares of the company’s stock worth $87,000 after purchasing an additional 1,356 shares during the period. Oak Hill Wealth Advisors LLC purchased a new stake in Hooker Furnishings during the 4th quarter valued at $145,000. Deutsche Bank AG raised its stake in Hooker Furnishings by 97.5% during the 4th quarter. Deutsche Bank AG now owns 14,494 shares of the company’s stock valued at $203,000 after buying an additional 7,157 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Hooker Furnishings by 270.4% during the 3rd quarter. Barclays PLC now owns 15,463 shares of the company’s stock valued at $279,000 after buying an additional 11,288 shares during the period. Institutional investors own 73.63% of the company’s stock.

About Hooker Furnishings

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The 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.