Haverty Furniture Companies (NYSE:HVT) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of 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 $24.15 and traded as high as $27.96. Haverty Furniture Companies shares last traded at $27.8040, with a volume of 107,611 shares trading hands.

Analyst Upgrades and Downgrades

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

Haverty Furniture Companies Stock Up 0.3%

The firm has a 50 day simple moving average of $26.96 and a 200-day simple moving average of $24.18. The company has a market cap of $427.17 million, a PE ratio of 20.15, a price-to-earnings-growth ratio of 1.43 and a beta of 1.22.

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

Haverty Furniture Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Tuesday, August 25th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $1.32 dividend on an annualized basis and a yield of 4.8%. Haverty Furniture Companies’s dividend payout ratio is presently 97.06%.

Insiders Place Their Bets

In other Haverty Furniture Companies news, Chairman Clarence Smith sold 20,991 shares of Haverty Furniture Companies stock in a transaction on Monday, August 17th. The shares were sold at an average price of $28.16, for a total value of $591,106.56. Following the transaction, the chairman directly owned 71,705 shares of the company’s stock, valued at approximately $2,019,212.80. The trade was a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.40% of the stock is currently owned by company insiders.

Institutional Trading of Haverty Furniture Companies

Institutional investors have recently made changes to their positions in the business. Engineers Gate Manager LP increased its position in Haverty Furniture Companies by 121.1% during the 2nd quarter. Engineers Gate Manager LP now owns 22,858 shares of the company’s stock valued at $584,000 after buying an additional 12,518 shares in the last quarter. Odyssean LLC purchased a new stake in Haverty Furniture Companies in the second quarter valued at about $422,000. Empowered Funds LLC acquired a new stake in Haverty Furniture Companies in the second quarter worth about $3,051,000. Public Employees Retirement System of Ohio acquired a new stake in Haverty Furniture Companies in the second quarter worth about $302,000. Finally, Bank of America Corp DE purchased a new stake in shares of Haverty Furniture Companies during the second quarter worth about $574,000. Institutional investors and hedge funds own 80.57% of the company’s stock.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc is a specialty retailer of residential furniture and related home furnishings. The company sells products for living rooms, bedrooms, dining rooms, home offices and other areas of the home, including upholstered furniture, case goods, mattresses, rugs, lighting and home accessories.

Founded in Atlanta in 1885 by James J. Haverty, the company operates under the Havertys name and serves customers through a network of retail stores and its e-commerce platform.