Haverty Furniture Companies (NYSE:HVT) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Haverty Furniture Companies (NYSE:HVT) from a hold rating to a buy rating in a report issued on Wednesday.

Haverty Furniture Companies Price Performance

Shares of HVT opened at $21.61 on Wednesday. The firm has a market cap of $349.87 million, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 1.15 and a beta of 1.44. Haverty Furniture Companies has a 1 year low of $20.37 and a 1 year high of $34.29. The company has a 50 day simple moving average of $22.10 and a two-hundred day simple moving average of $23.47.

Haverty Furniture Companies (NYSE:HVT) last posted its earnings results on Monday, February 24th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.30. The company had revenue of $184.35 million during the quarter, compared to analysts’ expectations of $179.84 million. Haverty Furniture Companies had a net margin of 3.57% and a return on equity of 8.69%. On average, sell-side analysts anticipate that Haverty Furniture Companies will post 0.88 earnings per share for the current year.

Haverty Furniture Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, March 6th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date is Thursday, March 6th. Haverty Furniture Companies’s payout ratio is presently 109.40%.

Institutional Trading of Haverty Furniture Companies

A number of large investors have recently added to or reduced their stakes in HVT. KLP Kapitalforvaltning AS purchased a new position in shares of Haverty Furniture Companies in the fourth quarter valued at $56,000. Point72 DIFC Ltd bought a new position in Haverty Furniture Companies during the third quarter valued at $70,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Haverty Furniture Companies in the 3rd quarter worth $88,000. US Bancorp DE increased its holdings in shares of Haverty Furniture Companies by 30.9% in the 4th quarter. US Bancorp DE now owns 5,184 shares of the company’s stock worth $115,000 after buying an additional 1,224 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Haverty Furniture Companies during the 3rd quarter valued at about $185,000. 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 accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products and eclectic looks; and mattress product lines under the Tempur-Pedic, Serta, Sealy, and Stearns and Foster names.