Haverty Furniture Companies (NYSE:HVT) Lowered to “Hold” at StockNews.com

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

Haverty Furniture Companies Stock Performance

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

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

Haverty Furniture Companies Dividend Announcement

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 $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 5.39%. The ex-dividend date was Monday, August 26th. Haverty Furniture Companies’s payout ratio is presently 55.17%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HVT. Acadian Asset Management LLC increased its holdings 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 valued at $804,000 after purchasing an additional 395 shares during the last quarter. Wulff Hansen & CO. lifted its holdings in shares of Haverty Furniture Companies by 2.9% during the 2nd quarter. Wulff Hansen & CO. now owns 22,662 shares of the company’s stock worth $573,000 after acquiring an additional 648 shares during the period. Texas Permanent School Fund Corp boosted 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 valued at $313,000 after purchasing an additional 714 shares in the last quarter. EMC Capital Management grew its position in Haverty Furniture Companies by 10.3% in the first quarter. EMC Capital Management now owns 8,064 shares of the company’s stock valued at $275,000 after acquiring an additional 750 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in Haverty Furniture Companies by 1.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 60,706 shares of the company’s stock worth $2,071,000 after purchasing an additional 907 shares in the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.

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.