Haverty Furniture Companies (NYSE:HVT) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Haverty Furniture Companies (NYSE:HVT) from a buy rating to a hold rating in a report issued on Friday.

Haverty Furniture Companies Stock Down 0.5 %

Shares of HVT opened at $23.74 on Friday. The business’s 50 day moving average is $26.37 and its two-hundred day moving average is $27.35. Haverty Furniture Companies has a 52-week low of $23.09 and a 52-week high of $37.05. The firm has a market cap of $389.57 million, a price-to-earnings ratio of 10.23, a PEG ratio of 1.42 and a beta of 1.45.

Haverty Furniture Companies (NYSE:HVT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $178.60 million during the quarter, compared to analysts’ expectations of $182.37 million. On average, equities 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 disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 26th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.28 annualized dividend and a dividend yield of 5.39%. Haverty Furniture Companies’s payout ratio is 55.17%.

Hedge Funds Weigh In On Haverty Furniture Companies

Several large investors have recently added to or reduced their stakes in HVT. Wulff Hansen & CO. raised its stake in shares of Haverty Furniture Companies by 2,503.4% in the 2nd quarter. Wulff Hansen & CO. now owns 573,122 shares of the company’s stock valued at $14,494,000 after buying an additional 551,108 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Haverty Furniture Companies in the second quarter valued at $3,161,000. American Century Companies Inc. raised its stake in shares of Haverty Furniture Companies by 19.0% in the second quarter. American Century Companies Inc. now owns 320,672 shares of the company’s stock worth $8,110,000 after acquiring an additional 51,302 shares during the last quarter. Vest Financial LLC acquired a new position in Haverty Furniture Companies during the 2nd quarter worth $1,087,000. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of Haverty Furniture Companies by 28.3% during the second quarter. Deprince Race & Zollo Inc. now owns 145,895 shares of the company’s stock valued at $3,690,000 after acquiring an additional 32,175 shares during the period. 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 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.