Haverty Furniture Companies (NYSE:HVT) Upgraded at Wall Street Zen

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

HVT has been the subject of several other research reports. Zacks Research raised Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Haverty Furniture Companies in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Haverty Furniture Companies currently has a consensus rating of “Hold”.

Haverty Furniture Companies Trading Down 1.4%

NYSE:HVT opened at $28.38 on Friday. The firm’s fifty day simple moving average is $25.67 and its 200 day simple moving average is $23.94. Haverty Furniture Companies has a twelve month low of $19.89 and a twelve month high of $29.83. The firm has a market capitalization of $442.44 million, a price-to-earnings ratio of 20.87, a PEG ratio of 1.48 and a beta of 1.20.

Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $194.94 million during the quarter, compared to the consensus estimate of $189.19 million. On average, analysts predict that Haverty Furniture Companies will post 1.62 earnings per share for the current year.

Haverty Furniture Companies Announces Dividend

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

Hedge Funds Weigh In On Haverty Furniture Companies

Institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in Haverty Furniture Companies in the 2nd quarter worth $302,000. Bank of America Corp DE acquired a new stake in shares of Haverty Furniture Companies during the second quarter valued at about $574,000. Odyssean LLC purchased a new stake in shares of Haverty Furniture Companies during the second quarter worth about $422,000. Hsbc Holdings PLC purchased a new stake in shares of Haverty Furniture Companies during the second quarter worth about $1,042,000. Finally, Legal & General Group Plc purchased a new stake in shares of Haverty Furniture Companies during the second quarter worth about $32,000. Institutional investors and hedge funds 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.