Haverty Furniture Companies (NYSE:HVT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.
According to Zacks, “Haverty Furniture Companies, Inc. (Havertys) is a full-service home furnishings retailer in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle to upper-middle price ranges. Havertys is a true retailing institution. “
Other equities research analysts have also recently issued reports about the company. BidaskClub raised Haverty Furniture Companies from a “buy” rating to a “strong-buy” rating in a report on Friday, December 18th. TheStreet raised Haverty Furniture Companies from a “c+” rating to a “b-” rating in a report on Tuesday, September 8th. Sidoti lifted their target price on Haverty Furniture Companies from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Finally, ValuEngine cut Haverty Furniture Companies from a “buy” rating to a “hold” rating in a report on Tuesday, December 1st. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $31.50.
NYSE:HVT opened at $28.16 on Wednesday. The business’s 50-day simple moving average is $27.99 and its two-hundred day simple moving average is $21.60. The stock has a market cap of $512.85 million, a PE ratio of 13.47 and a beta of 1.69. Haverty Furniture Companies has a 52 week low of $9.81 and a 52 week high of $31.57.
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Haverty Furniture Companies (NYSE:HVT) last issued its earnings results on Wednesday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.37. Haverty Furniture Companies had a return on equity of 6.19% and a net margin of 5.52%. The firm had revenue of $217.51 million for the quarter, compared to analysts’ expectations of $217.50 million. As a group, research analysts forecast that Haverty Furniture Companies will post 1.42 EPS for the current year.
In other Haverty Furniture Companies news, CEO Clarence H. Smith sold 10,199 shares of the business’s stock in a transaction that occurred on Monday, November 23rd. The stock was sold at an average price of $28.04, for a total transaction of $285,979.96. Following the sale, the chief executive officer now directly owns 18,187 shares of the company’s stock, valued at $509,963.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.99% of the company’s stock.
Several large investors have recently made changes to their positions in HVT. AJO LP purchased a new stake in shares of Haverty Furniture Companies in the second quarter worth approximately $2,191,000. Acadian Asset Management LLC boosted its holdings in Haverty Furniture Companies by 24.3% during the 3rd quarter. Acadian Asset Management LLC now owns 483,638 shares of the company’s stock valued at $10,127,000 after acquiring an additional 94,572 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Haverty Furniture Companies by 307.8% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 88,319 shares of the company’s stock valued at $1,849,000 after acquiring an additional 66,659 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new position in Haverty Furniture Companies during the 1st quarter valued at $1,303,000. Finally, Trexquant Investment LP boosted its holdings in Haverty Furniture Companies by 477.1% during the 3rd quarter. Trexquant Investment LP now owns 65,931 shares of the company’s stock valued at $1,381,000 after acquiring an additional 54,506 shares during the period. Institutional investors and hedge funds own 81.47% 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 mattress product lines under the Sealy, Tempur-Pedic, Serta, Stearns & Foster, Beautyrest Black, and Scott Living names, as well as private label Skye name.
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