Haverty Furniture Companies (NYSE:HVT) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Haverty Furniture Companies (NYSE:HVT) from a hold rating to a strong sell rating in a research note published on Tuesday morning,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Haverty Furniture Companies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded shares of Haverty Furniture Companies from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce”.

Haverty Furniture Companies Trading Up 3.2%

HVT opened at $23.73 on Tuesday. The company’s fifty day moving average price is $21.84 and its two-hundred day moving average price is $23.55. Haverty Furniture Companies has a 1-year low of $19.32 and a 1-year high of $27.67. The company has a market cap of $381.88 million, a price-to-earnings ratio of 19.78, a PEG ratio of 1.19 and a beta of 1.20.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Haverty Furniture Companies had a net margin of 2.64% and a return on equity of 6.60%. The firm had revenue of $189.05 million for the quarter, compared to the consensus estimate of $191.99 million. As a group, equities analysts forecast that Haverty Furniture Companies will post 1.62 earnings per share for the current fiscal year.

Haverty Furniture Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Monday, June 1st will be issued a $0.33 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.32 annualized dividend and a dividend yield of 5.6%. Haverty Furniture Companies’s dividend payout ratio is currently 110.00%.

Hedge Funds Weigh In On Haverty Furniture Companies

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Haverty Furniture Companies by 3.2% during the third quarter. Vanguard Group Inc. now owns 910,883 shares of the company’s stock valued at $19,976,000 after buying an additional 28,111 shares during the period. Renaissance Technologies LLC grew its position in Haverty Furniture Companies by 2.8% during the first quarter. Renaissance Technologies LLC now owns 719,830 shares of the company’s stock valued at $15,246,000 after buying an additional 19,624 shares during the period. Charles Schwab Investment Management Inc. grew its position in Haverty Furniture Companies by 21.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 371,843 shares of the company’s stock valued at $8,686,000 after buying an additional 64,614 shares during the period. Hodges Capital Management Inc. bought a new position in Haverty Furniture Companies during the fourth quarter valued at about $4,948,000. Finally, Bridgeway Capital Management LLC grew its position in Haverty Furniture Companies by 7.4% during the third quarter. Bridgeway Capital Management LLC now owns 188,396 shares of the company’s stock valued at $4,132,000 after buying an additional 12,994 shares during the period. Institutional investors 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 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.