Haverty Furniture Companies (NYSE:HVT) Stock Rating Upgraded by Zacks Research

Haverty Furniture Companies (NYSE:HVT) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Haverty Furniture Companies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Haverty Furniture Companies in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Haverty Furniture Companies Stock Performance

Shares of Haverty Furniture Companies stock opened at $22.36 on Monday. The stock has a market capitalization of $360.86 million, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 1.01 and a beta of 1.33. The company has a fifty day moving average of $22.51 and a 200-day moving average of $23.45. Haverty Furniture Companies has a 52-week low of $17.76 and a 52-week high of $27.67.

Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings results on Monday, February 23rd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $201.92 million during the quarter, compared to analysts’ expectations of $197.47 million. Haverty Furniture Companies had a net margin of 2.60% and a return on equity of 6.45%. On average, equities research analysts forecast that Haverty Furniture Companies will post 1.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HVT. Raymond James Financial Inc. bought a new position in shares of Haverty Furniture Companies in the 2nd quarter worth about $31,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Haverty Furniture Companies by 57.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company’s stock worth $40,000 after acquiring an additional 625 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Haverty Furniture Companies in the 4th quarter worth about $45,000. State of Wyoming bought a new position in shares of Haverty Furniture Companies in the 2nd quarter worth about $58,000. Finally, CWM LLC increased its stake in shares of Haverty Furniture Companies by 74.8% in the 4th quarter. CWM LLC now owns 5,940 shares of the company’s stock worth $139,000 after acquiring an additional 2,541 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 home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.