Question for You

Does anyone know the true etymology of the word "hobo?" Dictionary.com, the most reputable source that I can think of, said it was from the term "hoe boy," because they carried their own hoes, for fighting and casting hobo spells, one would suppose. My friend, however, told me that his history teacher told him that it was because they were "homeward bound," much like the animals in the film by the same name. Speaking of which, I must go...