Haverty Furniture Companies (NYSE:HVT) Earns Buy Rating from Analysts at StockNews.com

Investment analysts at StockNews.com began coverage on shares of Haverty Furniture Companies (NYSE:HVT – Get Rating) in a research note issued to investors on Thursday. The firm set a “buy” rating on the stock.

Haverty Furniture Companies Stock Performance

Shares of Haverty Furniture Companies stock opened at $31.90 on Thursday. The firm has a fifty day moving average of $34.67 and a two-hundred day moving average of $30.70. The stock has a market capitalization of $515.19 million, a price-to-earnings ratio of 6.10 and a beta of 1.41. Haverty Furniture Companies has a 52 week low of $22.77 and a 52 week high of $38.85.

Insider Activity at Haverty Furniture Companies

In related news, CEO Clarence H. Smith sold 13,880 shares of the company’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $34.29, for a total value of $475,945.20. Following the completion of the sale, the chief executive officer now owns 34,300 shares in the company, valued at approximately $1,176,147. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Clarence H. Smith sold 13,880 shares of the company’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $34.29, for a total value of $475,945.20. Following the completion of the sale, the chief executive officer now owns 34,300 shares in the company, valued at approximately $1,176,147. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Richard B. Hare sold 7,100 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $32.29, for a total transaction of $229,259.00. Following the completion of the sale, the chief financial officer now owns 15,878 shares of the company’s stock, valued at approximately $512,700.62. The disclosure for this sale can be found here. Insiders sold a total of 31,001 shares of company stock worth $1,069,260 in the last quarter. Corporate insiders own 8.05% of the company’s stock.

Hedge Funds Weigh In On Haverty Furniture Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Haverty Furniture Companies by 13.5% in the 1st quarter. BlackRock Inc. now owns 3,101,540 shares of the company’s stock worth $85,045,000 after purchasing an additional 369,931 shares during the period. Vanguard Group Inc. boosted its stake in Haverty Furniture Companies by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 1,157,724 shares of the company’s stock worth $31,746,000 after purchasing an additional 32,904 shares during the period. State Street Corp boosted its stake in Haverty Furniture Companies by 12.0% in the 1st quarter. State Street Corp now owns 654,090 shares of the company’s stock worth $17,935,000 after purchasing an additional 70,246 shares during the period. First Trust Advisors LP boosted its stake in Haverty Furniture Companies by 10.0% in the 3rd quarter. First Trust Advisors LP now owns 362,289 shares of the company’s stock worth $9,021,000 after purchasing an additional 32,926 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Haverty Furniture Companies by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 294,752 shares of the company’s stock worth $8,813,000 after purchasing an additional 2,206 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

About Haverty Furniture Companies

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Haverty Furniture Cos., Inc operates as a specialty retailer of residential furniture and accessories. It provides a selection of products and styles and various brands carried furniture. The firm offers the bedding product lines, which include sealy, serta, stearns, foster and tempur pedic. It also provides financing through an internal revolving charge credit plan, as well as a third party finance company.