Haverty Furniture Cos. (HVT) Downgraded by Raymond James Financial Inc.
Separately, Zacks Investment Research raised shares of Haverty Furniture Cos. from a hold rating to a buy rating and set a $23.00 target price on the stock in a research note on Tuesday, August 16th.
Haverty Furniture Cos. (NYSE:HVT) opened at 17.62 on Monday. Haverty Furniture Cos. has a 1-year low of $16.57 and a 1-year high of $24.54. The firm has a 50 day moving average of $19.70 and a 200-day moving average of $19.10. The company has a market capitalization of $371.85 million, a price-to-earnings ratio of 14.76 and a beta of 0.81.
Haverty Furniture Cos. (NYSE:HVT) last announced 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 earned $194.80 million during the quarter, compared to analyst estimates of $194.80 million. Haverty Furniture Cos. had a net margin of 3.30% and a return on equity of 9.05%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 EPS. On average, equities research analysts anticipate that Haverty Furniture Cos. will post $1.28 earnings per share for the current fiscal year.
In related news, Chairman Clarence H. Smith sold 10,510 shares of Haverty Furniture Cos. stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $20.52, for a total value of $215,665.20. Following the transaction, the chairman now directly owns 56,088 shares of the company’s stock, valued at $1,150,925.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.51% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in shares of Haverty Furniture Cos. by 107.2% in the second quarter. BNP Paribas Arbitrage SA now owns 6,187 shares of the company’s stock valued at $112,000 after buying an additional 3,201 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Haverty Furniture Cos. during the second quarter worth about $164,000. BlackRock Inc. increased its position in shares of Haverty Furniture Cos. by 696.2% in the second quarter. BlackRock Inc. now owns 9,961 shares of the company’s stock worth $180,000 after buying an additional 8,710 shares during the last quarter. Arizona State Retirement System increased its position in shares of 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. Finally, Springbok Capital Management LLC increased its position in shares of Haverty Furniture Cos. by 15.6% in the first quarter. Springbok Capital Management LLC now owns 12,600 shares of the company’s stock worth $267,000 after buying an additional 1,700 shares during the last quarter. 70.32% of the stock is currently owned by institutional investors.
Haverty Furniture Cos. Company Profile
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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