HOFT - Hooker Furnishings: Temporary Headwinds Haven't Created An Attractive Buying Level
2024-02-22 20:45:32 ET
Summary
- Hooker Furnishings has had a very mediocre organic growth performance in the medium- to long term. On top, the company has been hit with industry headwinds in FY2024.
- The company has demonstrated a good gross margin in FY2024 despite a poor sales environment, making a margin expansion into a greater level likely with an eventual sales recovery.
- Still, the current stock price doesn't represent a very good buying opportunity in my opinion, as an earnings recovery is priced in and Hooker Furnishings' poor growth weighs on estimates.
Hooker Furnishings Corporation ( HOFT ) manufactures and sells furnishing products for residential, hospitality and contract markets. The company sells under brands such as Hooker Casegoods, Hooker Upholstery, Prime Resources International, BOBO Intriguing Objects, and Bradington Young....
Hooker Furnishings: Temporary Headwinds Haven't Created An Attractive Buying Level