Haverty Furniture Companies (NYSE:HVT) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Haverty Furniture Companies (NYSE:HVT) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Other research analysts have also recently issued research reports about the company. Zacks Research raised Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Haverty Furniture Companies in a research note on Tuesday, August 4th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Haverty Furniture Companies currently has a consensus rating of “Hold”.

Haverty Furniture Companies Stock Performance

NYSE HVT opened at $28.75 on Friday. The company has a market capitalization of $448.25 million, a PE ratio of 21.14, a price-to-earnings-growth ratio of 1.48 and a beta of 1.20. Haverty Furniture Companies has a 52-week low of $19.89 and a 52-week high of $29.83. The company has a 50-day simple moving average of $25.55 and a 200 day simple moving average of $23.93.

Haverty Furniture Companies (NYSE:HVT) last released its earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Haverty Furniture Companies had a net margin of 2.93% and a return on equity of 7.15%. The firm had revenue of $194.94 million for the quarter, compared to analysts’ expectations of $189.19 million. As a group, analysts forecast that Haverty Furniture Companies will post 1.62 EPS for the current fiscal year.

Haverty Furniture Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 25th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 annualized dividend and a dividend yield of 4.6%. Haverty Furniture Companies’s dividend payout ratio (DPR) is 97.06%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in Haverty Furniture Companies by 13.8% in the first quarter. Royal Bank of Canada now owns 27,073 shares of the company’s stock valued at $534,000 after acquiring an additional 3,293 shares during the last quarter. AQR Capital Management LLC lifted its stake in Haverty Furniture Companies by 30.5% during the first quarter. AQR Capital Management LLC now owns 162,821 shares of the company’s stock worth $3,211,000 after purchasing an additional 38,074 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Haverty Furniture Companies by 7.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock worth $175,000 after purchasing an additional 651 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Haverty Furniture Companies by 7.4% in the 1st quarter. Empowered Funds LLC now owns 92,185 shares of the company’s stock worth $1,818,000 after purchasing an additional 6,387 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Haverty Furniture Companies by 68.7% in the 1st quarter. Jane Street Group LLC now owns 172,099 shares of the company’s stock worth $3,394,000 after purchasing an additional 70,060 shares in the last quarter. 80.57% of the stock is currently owned by hedge funds and other institutional investors.

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.