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

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

A number of other analysts have also recently commented on the company. Wall Street Zen cut Haverty Furniture Companies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered shares of Haverty Furniture Companies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Haverty Furniture Companies presently has an average rating of “Hold”.

Haverty Furniture Companies Stock Up 0.1%

Shares of HVT stock opened at $25.07 on Monday. The company has a 50 day moving average price of $23.14 and a 200-day moving average price of $23.66. Haverty Furniture Companies has a 52 week low of $19.53 and a 52 week high of $27.67. The firm has a market capitalization of $403.42 million, a PE ratio of 20.89, a P/E/G ratio of 1.29 and a beta of 1.18.

Haverty Furniture Companies (NYSE:HVT) last issued its earnings results on Tuesday, May 5th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $189.05 million for the quarter, compared to analysts’ expectations of $191.99 million. Haverty Furniture Companies had a net margin of 2.64% and a return on equity of 6.60%. Analysts anticipate that Haverty Furniture Companies will post 1.62 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings 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 acquiring an additional 28,111 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Haverty Furniture Companies by 2.8% in the first quarter. Renaissance Technologies LLC now owns 719,830 shares of the company’s stock worth $15,246,000 after acquiring an additional 19,624 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Haverty Furniture Companies by 21.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 371,843 shares of the company’s stock valued at $8,686,000 after purchasing an additional 64,614 shares during the period. Hodges Capital Management Inc. purchased a new position in Haverty Furniture Companies in the 4th quarter worth approximately $4,948,000. Finally, Bridgeway Capital Management LLC boosted its stake in Haverty Furniture Companies by 7.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 188,396 shares of the company’s stock worth $4,132,000 after purchasing an additional 12,994 shares during the period. Hedge funds and other institutional investors own 80.57% of the company’s stock.

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.