Haverty Furniture Companies (NYSE:HVT) Downgraded by StockNews.com

Haverty Furniture Companies (NYSE:HVT) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, Benchmark reaffirmed a “buy” rating and issued a $45.00 price target on shares of Haverty Furniture Companies in a research report on Thursday, May 2nd.

Haverty Furniture Companies Price Performance

Shares of Haverty Furniture Companies stock opened at $27.59 on Wednesday. Haverty Furniture Companies has a 1-year low of $25.14 and a 1-year high of $37.05. The stock’s 50 day simple moving average is $28.97 and its 200-day simple moving average is $32.21. The stock has a market cap of $448.06 million, a P/E ratio of 10.03, a P/E/G ratio of 1.51 and a beta of 1.43.

Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.19). Haverty Furniture Companies had a net margin of 5.64% and a return on equity of 14.98%. The business had revenue of $184.00 million during the quarter, compared to analyst estimates of $192.70 million. As a group, research analysts expect that Haverty Furniture Companies will post 1.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HVT. Vanguard Group Inc. boosted its holdings in Haverty Furniture Companies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 1,105,487 shares of the company’s stock valued at $37,719,000 after purchasing an additional 17,354 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Haverty Furniture Companies by 8.8% during the 3rd quarter. Invesco Ltd. now owns 322,446 shares of the company’s stock worth $9,280,000 after purchasing an additional 26,157 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Haverty Furniture Companies by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 308,565 shares of the company’s stock valued at $10,954,000 after acquiring an additional 9,064 shares in the last quarter. American Century Companies Inc. increased its holdings in Haverty Furniture Companies by 4.9% in the 3rd quarter. American Century Companies Inc. now owns 203,389 shares of the company’s stock valued at $5,854,000 after purchasing an additional 9,455 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Haverty Furniture Companies by 58.6% in the third quarter. Rhumbline Advisers now owns 114,258 shares of the company’s stock valued at $3,288,000 after purchasing an additional 42,198 shares during the period. 80.57% of the stock is owned by hedge funds and other institutional investors.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products and eclectic looks; and mattress product lines under the Tempur-Pedic, Serta, Sealy, and Stearns and Foster names.