Hooker Furniture (NASDAQ:HOFT) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Friday, ValuEngine reports.

A number of other research analysts have also commented on the stock. Sidoti boosted their price target on shares of Hooker Furniture from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, August 31st. BidaskClub raised shares of Hooker Furniture from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 1st.

HOFT opened at $27.39 on Friday. The company has a fifty day moving average price of $25.61 and a 200-day moving average price of $19.35. The firm has a market capitalization of $325.67 million, a P/E ratio of -17.67 and a beta of 0.83. Hooker Furniture has a one year low of $12.30 and a one year high of $29.16.

Hooker Furniture (NASDAQ:HOFT) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.14. The firm had revenue of $130.54 million during the quarter. Hooker Furniture had a negative net margin of 3.24% and a positive return on equity of 6.11%.

Several hedge funds and other institutional investors have recently bought and sold shares of HOFT. Rhumbline Advisers lifted its holdings in shares of Hooker Furniture by 6.3% during the 1st quarter. Rhumbline Advisers now owns 19,473 shares of the company’s stock worth $304,000 after acquiring an additional 1,150 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Hooker Furniture by 11.4% in the first quarter. Bank of New York Mellon Corp now owns 105,921 shares of the company’s stock worth $1,653,000 after purchasing an additional 10,859 shares during the last quarter. State Street Corp lifted its stake in Hooker Furniture by 23.6% in the first quarter. State Street Corp now owns 293,994 shares of the company’s stock worth $4,589,000 after purchasing an additional 56,209 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Hooker Furniture by 6.6% in the first quarter. Victory Capital Management Inc. now owns 61,235 shares of the company’s stock worth $956,000 after purchasing an additional 3,778 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Hooker Furniture by 29.9% in the first quarter. BNP Paribas Arbitrage SA now owns 3,603 shares of the company’s stock worth $56,000 after purchasing an additional 829 shares during the last quarter. 87.80% of the stock is owned by institutional investors.

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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