Benchmark Reiterates Buy Rating for Haverty Furniture Companies (NYSE:HVT)

Haverty Furniture Companies (NYSE:HVT)‘s stock had its “buy” rating reiterated by Benchmark in a report issued on Thursday, Benzinga reports. They presently have a $45.00 price target on the stock. Benchmark’s target price would suggest a potential upside of 60.26% from the company’s previous close.

Separately, StockNews.com downgraded Haverty Furniture Companies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 6th.

Haverty Furniture Companies Stock Down 9.4 %

Shares of NYSE HVT traded down $2.93 during midday trading on Thursday, hitting $28.08. The stock had a trading volume of 87,101 shares, compared to its average volume of 100,556. The company has a market cap of $453.49 million, a P/E ratio of 8.37, a PEG ratio of 1.10 and a beta of 1.54. The business’s 50 day moving average is $32.25 and its 200-day moving average is $32.51. Haverty Furniture Companies has a 52 week low of $25.05 and a 52 week high of $37.05.

Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.06). Haverty Furniture Companies had a net margin of 6.53% and a return on equity of 18.36%. The company had revenue of $210.74 million for the quarter, compared to the consensus estimate of $230.06 million. As a group, analysts expect that Haverty Furniture Companies will post 2.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HVT. Hennion & Walsh Asset Management Inc. grew its holdings in Haverty Furniture Companies by 4.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 75,024 shares of the company’s stock worth $2,159,000 after purchasing an additional 2,933 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Haverty Furniture Companies during the third quarter valued at $814,000. Illinois Municipal Retirement Fund acquired a new position in shares of Haverty Furniture Companies in the 3rd quarter valued at $244,000. Barclays PLC raised its stake in Haverty Furniture Companies by 40.1% in the 3rd quarter. Barclays PLC now owns 15,337 shares of the company’s stock worth $441,000 after acquiring an additional 4,387 shares during the last quarter. Finally, Swiss National Bank grew its stake in Haverty Furniture Companies by 2.1% during the 3rd quarter. Swiss National Bank now owns 29,700 shares of the company’s stock valued at $855,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other 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.