Haverty Furniture Companies (NYSE:HVT) Rating Increased to Buy at StockNews.com

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

Haverty Furniture Companies Stock Down 2.0 %

Shares of NYSE:HVT opened at $20.87 on Wednesday. Haverty Furniture Companies has a 52 week low of $20.37 and a 52 week high of $34.29. The stock has a market capitalization of $337.89 million, a P/E ratio of 13.12, a PEG ratio of 1.15 and a beta of 1.44. The firm has a fifty day simple moving average of $22.08 and a two-hundred day simple moving average of $23.41.

Haverty Furniture Companies (NYSE:HVT) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.30. Haverty Furniture Companies had a net margin of 3.57% and a return on equity of 8.69%. The business had revenue of $184.35 million during the quarter, compared to analysts’ expectations of $179.84 million. On average, analysts expect that Haverty Furniture Companies will post 0.88 earnings per share for the current year.

Haverty Furniture Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Thursday, March 6th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.28 annualized dividend and a dividend yield of 6.13%. Haverty Furniture Companies’s dividend payout ratio (DPR) is presently 109.40%.

Institutional Investors Weigh In On Haverty Furniture Companies

Several institutional investors have recently made changes to their positions in HVT. KLP Kapitalforvaltning AS bought a new stake in shares of Haverty Furniture Companies in the 4th quarter worth about $56,000. Point72 DIFC Ltd bought a new stake in Haverty Furniture Companies during the 3rd quarter valued at about $70,000. Wilmington Savings Fund Society FSB bought a new stake in Haverty Furniture Companies during the 3rd quarter valued at about $88,000. US Bancorp DE lifted its holdings in Haverty Furniture Companies by 30.9% during the 4th quarter. US Bancorp DE now owns 5,184 shares of the company’s stock valued at $115,000 after buying an additional 1,224 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in Haverty Furniture Companies by 8.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 6,813 shares of the company’s stock valued at $152,000 after buying an additional 548 shares in the last quarter. Institutional investors own 80.57% of the company’s stock.

About Haverty Furniture Companies

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.