Haverty Furniture Companies (NYSE:HVT) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Haverty Furniture Companies, Inc. (NYSE:HVT) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.02 and traded as high as $27.67. Haverty Furniture Companies shares last traded at $27.25, with a volume of 236,380 shares changing hands.

Analyst Ratings Changes

A number of brokerages have commented on HVT. Weiss Ratings upgraded Haverty Furniture Companies from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 18th. Zacks Research raised shares of Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Wall Street Zen raised shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Haverty Furniture Companies Stock Performance

The firm has a market capitalization of $438.33 million, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. The company’s fifty day moving average price is $26.45 and its 200 day moving average price is $24.03.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Haverty Furniture Companies had a return on equity of 7.15% and a net margin of 2.93%.The company had revenue of $194.94 million for the quarter, compared to analysts’ expectations of $189.19 million. As a group, sell-side analysts expect that Haverty Furniture Companies, Inc. will post 1.62 earnings per share for the current year.

Haverty Furniture Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 25th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a yield of 4.7%. Haverty Furniture Companies’s payout ratio is presently 97.06%.

Insider Buying and Selling at Haverty Furniture Companies

In related news, Chairman Clarence H. Smith sold 20,991 shares of Haverty Furniture Companies stock in a transaction on Monday, August 17th. The stock was sold at an average price of $28.16, for a total transaction of $591,106.56. Following the completion of the sale, the chairman owned 71,705 shares of the company’s stock, valued at approximately $2,019,212.80. This trade represents a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.40% of the company’s stock.

Institutional Trading of Haverty Furniture Companies

Hedge funds have recently modified their holdings of the company. Legal & General Group Plc bought a new stake in Haverty Furniture Companies in the 2nd quarter valued at $32,000. Raymond James Financial Inc. bought a new position in Haverty Furniture Companies during the second quarter worth $31,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of Haverty Furniture Companies by 57.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company’s stock valued at $40,000 after acquiring an additional 625 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of Haverty Furniture Companies in the 1st quarter worth about $49,000. Finally, State of Wyoming purchased a new position in shares of Haverty Furniture Companies in the 2nd quarter worth approximately $58,000. 80.57% of the stock is currently owned by institutional investors and hedge funds.

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.