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

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

Hooker Furnishings Stock Up 0.5 %

Shares of NASDAQ:HOFT traded up $0.06 on Tuesday, hitting $11.60. 50,949 shares of the company’s stock were exchanged, compared to its average volume of 36,384. The firm’s 50-day moving average is $12.91 and its 200 day moving average is $15.32. The company has a market capitalization of $124.24 million, a PE ratio of -12.75, a P/E/G ratio of 0.85 and a beta of 1.16. Hooker Furnishings has a 1-year low of $11.32 and a 1-year high of $24.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.76 and a current ratio of 3.16.

Institutional Trading of Hooker Furnishings

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Hooker Furnishings by 107.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 43,688 shares of the company’s stock valued at $790,000 after purchasing an additional 22,635 shares during the last quarter. Pzena Investment Management LLC lifted 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 valued at $18,712,000 after purchasing an additional 49,212 shares during the last quarter. Barclays PLC lifted 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 valued at $279,000 after purchasing an additional 11,288 shares during the last quarter. Stifel Financial Corp lifted 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 valued at $796,000 after purchasing an additional 3,827 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in Hooker Furnishings by 26.4% during the 3rd quarter. HighTower Advisors LLC now owns 19,004 shares of the company’s stock valued at $344,000 after acquiring an additional 3,966 shares during the last quarter. 73.63% of the stock is owned by hedge funds and other institutional investors.

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.