Haverty Furniture Companies (NYSE:HVT) Rating Lowered to “Strong Sell” at Zacks Research

Haverty Furniture Companies (NYSE:HVT) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts have also issued reports on HVT. Weiss Ratings restated a “hold (c)” rating on shares of Haverty Furniture Companies in a research report on Monday. Wall Street Zen raised shares of Haverty Furniture Companies from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 9th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Haverty Furniture Companies Trading Down 0.3%

NYSE HVT opened at $23.64 on Monday. The company has a market cap of $384.59 million, a price-to-earnings ratio of 20.74, a PEG ratio of 1.70 and a beta of 1.27. The company has a 50 day moving average of $23.12 and a 200-day moving average of $22.20. Haverty Furniture Companies has a 1-year low of $17.01 and a 1-year high of $25.27.

Haverty Furniture Companies (NYSE:HVT) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The business had revenue of $194.48 million for the quarter, compared to the consensus estimate of $183.12 million. Haverty Furniture Companies had a return on equity of 6.34% and a net margin of 2.62%. On average, equities research analysts forecast that Haverty Furniture Companies will post 0.88 earnings per share for the current year.

Insider Buying and Selling at Haverty Furniture Companies

In related news, Director Rawson Haverty, Jr. sold 7,500 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $24.86, for a total value of $186,450.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 14,354 shares of company stock worth $345,898. 8.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HVT. Pzena Investment Management LLC boosted its stake in shares of Haverty Furniture Companies by 61.5% in the 2nd quarter. Pzena Investment Management LLC now owns 1,560,557 shares of the company’s stock valued at $31,757,000 after purchasing an additional 594,476 shares in the last quarter. Vanguard Group Inc. boosted its position in Haverty Furniture Companies by 3.2% in the third quarter. Vanguard Group Inc. now owns 910,883 shares of the company’s stock valued at $19,976,000 after buying an additional 28,111 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Haverty Furniture Companies by 7.5% during the second quarter. American Century Companies Inc. now owns 464,629 shares of the company’s stock worth $9,455,000 after buying an additional 32,413 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Haverty Furniture Companies by 8.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 337,889 shares of the company’s stock worth $6,876,000 after buying an additional 24,945 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Haverty Furniture Companies by 7.4% during the third quarter. Bridgeway Capital Management LLC now owns 188,396 shares of the company’s stock worth $4,132,000 after buying an additional 12,994 shares in the last quarter. 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 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.