Haverty Furniture Cos. (HVT) Cut to “Hold” at Zacks Investment Research
According to Zacks, “Haverty Furniture Companies, Inc. is a full-service home furnishings retailer. The company operates showrooms in contiguous southern and central states. Havertys provides its customers with a wide selection of furniture and accessories primarily in the middle to upper-middle price ranges. As an added convenience to its customers, the company offers financing through a revolving charge credit plan. “
Separately, Raymond James Financial Inc. upgraded Haverty Furniture Cos. from an outperform rating to a strong-buy rating and set a $23.00 price objective on the stock in a research report on Tuesday, August 2nd.
Haverty Furniture Cos. (NYSE:HVT) opened at 19.76 on Wednesday. Haverty Furniture Cos. has a 52 week low of $16.65 and a 52 week high of $24.54. The firm has a 50-day moving average price of $19.95 and a 200 day moving average price of $19.16. The firm has a market capitalization of $417.02 million, a price-to-earnings ratio of 16.55 and a beta of 0.81.
Haverty Furniture Cos. (NYSE:HVT) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.05. The firm had revenue of $194.80 million for the quarter, compared to analyst estimates of $194.80 million. Haverty Furniture Cos. had a return on equity of 9.05% and a net margin of 3.30%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. On average, equities research analysts forecast that Haverty Furniture Cos. will post $1.28 earnings per share for the current fiscal year.
In other news, Chairman Clarence H. Smith sold 10,510 shares of Haverty Furniture Cos. stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $20.52, for a total value of $215,665.20. Following the sale, the chairman now directly owns 56,088 shares in the company, valued at approximately $1,150,925.76. The sale was disclosed in a filing with the SEC, which is available through this link. 10.51% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Foundry Partners LLC boosted its position in Haverty Furniture Cos. by 1.2% in the third quarter. Foundry Partners LLC now owns 169,875 shares of the company’s stock worth $3,404,000 after buying an additional 2,060 shares during the last quarter. Arizona State Retirement System boosted its position in Haverty Furniture Cos. by 1.9% in the second quarter. Arizona State Retirement System now owns 10,475 shares of the company’s stock worth $189,000 after buying an additional 200 shares during the last quarter. Citadel Advisors LLC purchased a new position in Haverty Furniture Cos. during the second quarter worth approximately $379,000. State Street Corp boosted its position in Haverty Furniture Cos. by 2.2% in the second quarter. State Street Corp now owns 434,427 shares of the company’s stock worth $7,833,000 after buying an additional 9,415 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Haverty Furniture Cos. by 0.3% in the second quarter. Thrivent Financial for Lutherans now owns 182,087 shares of the company’s stock worth $3,283,000 after buying an additional 560 shares during the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.
About Haverty Furniture Cos.
Haverty Furniture Companies, Inc is a specialty retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website havertys.com. The Company has over 120 stores in approximately 20 states in the southern and Midwest regions with over 4.4 million square feet retail store space.
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