Haverty Furniture Companies (NYSE:HVT) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Haverty Furniture Companies (NYSE:HVT) from a buy rating to a hold rating in a research report released on Saturday morning.

A number of other analysts have also recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Haverty Furniture Companies in a research report on Friday, March 27th. Zacks Research raised Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Haverty Furniture Companies Stock Performance

HVT opened at $21.82 on Friday. The company has a market cap of $352.17 million, a P/E ratio of 18.65, a PEG ratio of 0.99 and a beta of 1.20. Haverty Furniture Companies has a one year low of $18.69 and a one year high of $27.67. The business’s 50-day simple moving average is $22.36 and its 200-day simple moving average is $23.45.

Haverty Furniture Companies (NYSE:HVT) last announced its earnings results on Monday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $201.92 million during the quarter, compared to analysts’ expectations of $197.47 million. Haverty Furniture Companies had a return on equity of 6.45% and a net margin of 2.60%. As a group, analysts predict that Haverty Furniture Companies will post 1.8 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, March 25th. Shareholders of record on Tuesday, March 10th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Tuesday, March 10th. Haverty Furniture Companies’s dividend payout ratio (DPR) is 112.82%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co grew its stake in shares of Haverty Furniture Companies by 57.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company’s stock valued at $40,000 after purchasing an additional 625 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Haverty Furniture Companies by 7.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock valued at $175,000 after purchasing an additional 651 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Haverty Furniture Companies by 1.6% in the 1st quarter. Hsbc Holdings PLC now owns 46,941 shares of the company’s stock valued at $994,000 after purchasing an additional 737 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Haverty Furniture Companies by 2.0% in the 2nd quarter. First Trust Advisors LP now owns 42,391 shares of the company’s stock valued at $863,000 after purchasing an additional 843 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Haverty Furniture Companies in the 2nd quarter valued at approximately $31,000. 80.57% of the stock is currently owned by hedge funds and other institutional investors.

About Haverty Furniture Companies

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.