Hooker Furnishings (NASDAQ:HOFT) Upgraded to “Hold” at StockNews.com

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

Hooker Furnishings Stock Performance

HOFT traded up $0.06 on Tuesday, hitting $11.60. 50,949 shares of the company traded hands, compared to its average volume of 36,384. The company has a 50 day moving average of $12.91 and a 200-day moving average of $15.32. The company has a quick ratio of 1.76, a current ratio of 3.16 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $124.24 million, a PE ratio of -12.75, a PEG ratio of 0.85 and a beta of 1.16. Hooker Furnishings has a 12-month low of $11.32 and a 12-month high of $24.18.

Hedge Funds Weigh In On Hooker Furnishings

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in shares of Hooker Furnishings by 107.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,688 shares of the company’s stock worth $790,000 after buying an additional 22,635 shares in the last quarter. Pzena Investment Management LLC grew its holdings in shares of Hooker Furnishings by 3.8% in the 4th quarter. Pzena Investment Management LLC now owns 1,335,593 shares of the company’s stock worth $18,712,000 after acquiring an additional 49,212 shares during the period. Barclays PLC grew its holdings in shares of Hooker Furnishings by 270.4% in the 3rd quarter. Barclays PLC now owns 15,463 shares of the company’s stock worth $279,000 after acquiring an additional 11,288 shares during the period. Stifel Financial Corp grew its holdings in shares of Hooker Furnishings by 9.5% in the 3rd quarter. Stifel Financial Corp now owns 44,003 shares of the company’s stock worth $796,000 after acquiring an additional 3,827 shares during the period. Finally, HighTower Advisors LLC grew its holdings in shares of Hooker Furnishings by 26.4% in the 3rd quarter. HighTower Advisors LLC now owns 19,004 shares of the company’s stock worth $344,000 after acquiring an additional 3,966 shares during the period. 73.63% of the stock is owned by hedge funds and other institutional investors.

Hooker Furnishings Company Profile

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.