LZB - Hooker Furniture: Surging Orders And Backlog 7x P/E And 22% Cash Equal 55% Upside
- Hooker had a record EPS of $0.84 for the fiscal third quarter, soundly beating expectations.
- Based on these very encouraging earnings, we have revised our price target to $51.40, representing 55% total return potential.
- Backlogs were up a staggering 88%, and Incoming orders were up 34% YoY, respectively.
- Attractive chart, with stock well below 5-year highs; while other furniture/housing stocks are surging on strong outlooks and demand rebound.
- Hooker has a robust and attractive $7.85 per share of cash, representing 22% of the current stock price, and a forward-looking ex-cash P/E of 6.8x.
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Hooker Furniture: Surging Orders And Backlog, 7x P/E And 22% Cash Equal 55% Upside