Haverty Furniture Companies (NYSE:HVT) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Haverty Furniture Companies (NYSE:HVT) from a buy rating to a hold rating in a report released on Friday morning.

Haverty Furniture Companies Price Performance

Shares of HVT opened at $23.74 on Friday. Haverty Furniture Companies has a fifty-two week low of $23.09 and a fifty-two week high of $37.05. The company has a market capitalization of $385.44 million, a price-to-earnings ratio of 8.63, a P/E/G ratio of 1.42 and a beta of 1.45. The business’s 50-day moving average is $26.37 and its 200-day moving average is $27.29.

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

Haverty Furniture Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 26th were issued a dividend of $0.32 per share. The ex-dividend date was Monday, August 26th. This represents a $1.28 annualized dividend and a yield of 5.39%. Haverty Furniture Companies’s dividend payout ratio (DPR) is currently 46.55%.

Institutional Investors Weigh In On Haverty Furniture Companies

A number of large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Haverty Furniture Companies by 22.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,545 shares of the company’s stock valued at $140,000 after acquiring an additional 1,034 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in shares of Haverty Furniture Companies in the first quarter worth $206,000. Harbor Capital Advisors Inc. increased its position in Haverty Furniture Companies by 79.9% during the second quarter. Harbor Capital Advisors Inc. now owns 7,772 shares of the company’s stock worth $197,000 after acquiring an additional 3,451 shares during the period. EMC Capital Management raised its stake in Haverty Furniture Companies by 10.3% during the 1st quarter. EMC Capital Management now owns 8,064 shares of the company’s stock valued at $275,000 after purchasing an additional 750 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Haverty Furniture Companies by 179.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,506 shares of the company’s stock valued at $324,000 after purchasing an additional 6,101 shares during the period. Institutional investors own 80.57% of the company’s stock.

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.