Haverty Furniture Companies (NYSE:HVT) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Haverty Furniture Companies (NYSE:HVT) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Haverty Furniture Companies Price Performance

Shares of HVT stock opened at $25.54 on Thursday. The company has a market capitalization of $414.67 million, a P/E ratio of 9.29, a P/E/G ratio of 1.46 and a beta of 1.45. The company’s 50-day simple moving average is $26.80 and its two-hundred day simple moving average is $27.54. Haverty Furniture Companies has a one year low of $23.09 and a one year high of $37.05.

Haverty Furniture Companies (NYSE:HVT) last issued its earnings results on Wednesday, July 31st. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The business had revenue of $178.60 million for the quarter, compared to the consensus estimate of $182.37 million. Haverty Furniture Companies had a net margin of 4.91% and a return on equity of 12.58%. On average, research analysts expect that Haverty Furniture Companies will post 1.45 EPS for the current fiscal year.

Haverty Furniture Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 26th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.28 dividend on an annualized basis and a yield of 5.01%. Haverty Furniture Companies’s dividend payout ratio is currently 46.55%.

Hedge Funds Weigh In On Haverty Furniture Companies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC boosted its stake in shares of Haverty Furniture Companies by 1.3% during the second quarter. Acadian Asset Management LLC now owns 31,855 shares of the company’s stock valued at $804,000 after purchasing an additional 395 shares in the last quarter. Wulff Hansen & CO. boosted its stake in shares of Haverty Furniture Companies by 2.9% during the second quarter. Wulff Hansen & CO. now owns 22,662 shares of the company’s stock valued at $573,000 after purchasing an additional 648 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Haverty Furniture Companies by 6.1% during the second quarter. Texas Permanent School Fund Corp now owns 12,388 shares of the company’s stock valued at $313,000 after purchasing an additional 714 shares in the last quarter. EMC Capital Management boosted its stake in shares of Haverty Furniture Companies by 10.3% during the first quarter. EMC Capital Management now owns 8,064 shares of the company’s stock valued at $275,000 after purchasing an additional 750 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of Haverty Furniture Companies by 1.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 60,706 shares of the company’s stock valued at $2,071,000 after purchasing an additional 907 shares in the last quarter. 80.57% of the stock is currently owned by 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.