Extremely significant positive changes in Hooker Furnishings Corporation (NASDAQ: HOFT) investment behavior have recently occurred: the stock rose on very heavy volume, and its longer term price trend turned up.
Recent meaningful positive changes in fundamentals have benefitted Hooker Furnishings Corporation (NASDAQ: HOFT). Positive developments: the consensus estimate for January, 2023 increased significantly, the stock’s power rating rose above 70, and the consensus estimate for January, 2024 increased significantly. Negative development: significant quarterly sales deceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, HOFT is expected to continue to be a Value Builder.
Hooker Furnishings has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Hooker Furnishings has a neutral Appreciation Score of 42 but a good Power Rating of 83, producing the High Neutral Value Trend Rating.
Recent Price Action
Hooker Furnishings Corporation (NASDAQ: HOFT) stock enjoyed a large increase of 4.0% on 12/15/23. The stock closed at $25.49. Moreover, this advance was accompanied by exceptionally high trading volume at 482% of normal. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 14.9% during the last week.
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