Haverty Furniture Companies (NYSE:HVT) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Haverty Furniture Companies (NYSE:HVT) from a strong sell rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Wall Street Zen lowered Haverty Furniture Companies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings cut shares of Haverty Furniture Companies from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Haverty Furniture Companies Price Performance

Shares of Haverty Furniture Companies stock opened at $25.07 on Monday. The stock has a market capitalization of $403.42 million, a P/E ratio of 20.89, a PEG ratio of 1.29 and a beta of 1.18. The business has a 50 day simple moving average of $23.14 and a two-hundred day simple moving average of $23.66. Haverty Furniture Companies has a 12 month low of $19.53 and a 12 month high of $27.67.

Haverty Furniture Companies (NYSE:HVT) last issued its earnings results on Tuesday, May 5th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The business had revenue of $189.05 million for the quarter, compared to analysts’ expectations of $191.99 million. Haverty Furniture Companies had a return on equity of 6.60% and a net margin of 2.64%. As a group, research analysts anticipate that Haverty Furniture Companies will post 1.62 EPS for the current fiscal year.

Haverty Furniture Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 1st were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Monday, June 1st. Haverty Furniture Companies’s dividend payout ratio (DPR) is presently 110.00%.

Institutional Investors Weigh In On Haverty Furniture Companies

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in Haverty Furniture Companies by 4.8% during the 1st quarter. Bank of America Corp DE now owns 26,230 shares of the company’s stock valued at $556,000 after acquiring an additional 1,195 shares in the last quarter. Empowered Funds LLC grew its position in shares of Haverty Furniture Companies by 10.7% in the first quarter. Empowered Funds LLC now owns 117,502 shares of the company’s stock valued at $2,489,000 after purchasing an additional 11,318 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Haverty Furniture Companies by 32.4% in the 1st quarter. Quantinno Capital Management LP now owns 28,573 shares of the company’s stock valued at $605,000 after buying an additional 6,989 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Haverty Furniture Companies by 13.5% in the first quarter. Lazard Asset Management LLC now owns 81,536 shares of the company’s stock worth $1,727,000 after acquiring an additional 9,697 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Haverty Furniture Companies by 2.8% during the first quarter. Renaissance Technologies LLC now owns 719,830 shares of the company’s stock valued at $15,246,000 after acquiring an additional 19,624 shares during the last quarter. 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.