Haverty Furniture Companies (NYSE:HVT) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Haverty Furniture Companies (NYSE:HVT) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Haverty Furniture Companies Price Performance

Shares of NYSE HVT opened at $25.61 on Wednesday. Haverty Furniture Companies has a 1 year low of $23.09 and a 1 year high of $37.05. The firm has a 50-day moving average of $27.05 and a 200 day moving average of $27.84. The stock has a market cap of $415.80 million, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 1.46 and a beta of 1.45.

Haverty Furniture Companies (NYSE:HVT) last released its earnings results on Wednesday, July 31st. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. Haverty Furniture Companies had a net margin of 4.91% and a return on equity of 12.58%. The firm had revenue of $178.60 million during the quarter, compared to analyst estimates of $182.37 million. Research analysts expect that Haverty Furniture Companies will post 1.45 earnings per share for the current fiscal year.

Haverty Furniture Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 26th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 5.00%. The ex-dividend date was Monday, August 26th. Haverty Furniture Companies’s dividend payout ratio is presently 46.55%.

Institutional Trading of Haverty Furniture Companies

Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC lifted its stake in shares of Haverty Furniture Companies by 1.3% in the second quarter. Acadian Asset Management LLC now owns 31,855 shares of the company’s stock worth $804,000 after buying an additional 395 shares in the last quarter. Wulff Hansen & CO. boosted its stake in Haverty Furniture Companies by 2.9% during the 2nd quarter. Wulff Hansen & CO. now owns 22,662 shares of the company’s stock valued at $573,000 after purchasing an additional 648 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Haverty Furniture Companies by 6.1% in the 2nd quarter. Texas Permanent School Fund Corp now owns 12,388 shares of the company’s stock worth $313,000 after purchasing an additional 714 shares in the last quarter. EMC Capital Management raised its stake in shares of Haverty Furniture Companies by 10.3% in the first quarter. EMC Capital Management now owns 8,064 shares of the company’s stock worth $275,000 after purchasing an additional 750 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Haverty Furniture Companies by 1.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 60,706 shares of the company’s stock valued at $2,071,000 after purchasing an additional 907 shares in the last quarter. 80.57% of the stock is currently owned by institutional investors.

About Haverty Furniture Companies

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products and eclectic looks; and mattress product lines under the Tempur-Pedic, Serta, Sealy, and Stearns and Foster names.