Haverty Furniture Companies, Inc. (NYSE:HVT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Haverty Furniture Companies, Inc. is a full-service home furnishings retailer. The company operates showrooms in contiguous southern and central states. Havertys provides its customers with a wide selection of furniture and accessories primarily in the middle to upper-middle price ranges. As an added convenience to its customers, the company offers financing through a revolving charge credit plan. “
Separately, ValuEngine upgraded shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.00.
Shares of Haverty Furniture Companies (NYSE HVT) opened at 24.30 on Thursday. The company has a 50 day moving average of $23.47 and a 200 day moving average of $23.61. Haverty Furniture Companies has a 52 week low of $16.57 and a 52 week high of $26.30. The company has a market cap of $515.60 million, a PE ratio of 17.15 and a beta of 1.11.
Haverty Furniture Companies (NYSE:HVT) last posted its quarterly earnings data on Monday, July 31st. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.10. The firm had revenue of $196.80 million for the quarter, compared to analysts’ expectations of $199.03 million. Haverty Furniture Companies had a net margin of 3.67% and a return on equity of 10.58%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.24 EPS. On average, analysts expect that Haverty Furniture Companies will post $1.28 EPS for the current year.
In related news, insider Steven G. Burdette sold 4,800 shares of Haverty Furniture Companies stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $23.50, for a total value of $112,800.00. Following the transaction, the insider now owns 3,657 shares in the company, valued at approximately $85,939.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Rawson Haverty, Jr. sold 1,964 shares of Haverty Furniture Companies stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $23.52, for a total transaction of $46,193.28. Following the completion of the transaction, the insider now owns 400 shares in the company, valued at approximately $9,408. The disclosure for this sale can be found here. 10.31% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. LSV Asset Management boosted its position in shares of Haverty Furniture Companies by 24.6% in the first quarter. LSV Asset Management now owns 1,083,506 shares of the company’s stock worth $26,383,000 after buying an additional 213,800 shares during the last quarter. AJO LP acquired a new position in shares of Haverty Furniture Companies during the second quarter worth approximately $3,482,000. James Investment Research Inc. acquired a new position in shares of Haverty Furniture Companies during the second quarter worth approximately $1,512,000. Norges Bank acquired a new position in shares of Haverty Furniture Companies during the fourth quarter worth approximately $1,322,000. Finally, Systematic Financial Management LP acquired a new position in shares of Haverty Furniture Companies during the second quarter worth approximately $1,314,000. Institutional investors own 78.75% of the company’s stock.
About Haverty Furniture Companies
Haverty Furniture Companies, Inc is a retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website, havertys.com. As of December 31, 2016, the Company had 124 stores in 16 states in the Southern and Midwest regions. As of December 31, 2016, the Company’s retail store space totaled approximately 4.5 million square feet for 124 stores.
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