Hooker Furnishings Corporation (NASDAQ: HOFT) suffers from meaningful negative changes in fundamentals: significant quarterly sales deceleration occurred, the consensus estimate for January, 2023 decreased significantly, and the consensus estimate for January, 2024 decreased significantly.
Hooker Furnishings Corporation (NASDAQ: HOFT) suffers from notable negative changes in investment behavior: negative upside/downside volume developed.
In light of these highly negative signals we are reviewing our current Overall Rating of B. We would view the shares with caution 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 modest Value Builder.
Hooker Furnishings has a current Value Trend Rating of B (Positive). 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 47 but a good Power Rating of 80, leading to the Positive Value Trend Rating.
Recent Price Action
On 3/8/24, Hooker Furnishings Corporation (NASDAQ: HOFT) stock declined modestly by -1.2%, closing at $23.08. However, this decline was accompanied by below average trading volume at 73% of normal. The stock has declined -5.8% during the last week but has been exceptionally strong relative to the market over the last nine months.
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