Haverty Furniture Companies (NYSE:HVT) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Haverty Furniture Companies (NYSE:HVTFree Report) from a buy rating to a hold rating in a research note published on Thursday.

Separately, Benchmark reiterated a buy rating and set a $45.00 price target on shares of Haverty Furniture Companies in a research note on Thursday, May 2nd.

View Our Latest Stock Report on Haverty Furniture Companies

Haverty Furniture Companies Trading Down 2.6 %

Shares of Haverty Furniture Companies stock opened at $26.75 on Thursday. The company’s fifty day simple moving average is $29.88 and its 200-day simple moving average is $32.48. The company has a market cap of $434.42 million, a price-to-earnings ratio of 9.73, a PEG ratio of 1.53 and a beta of 1.42. Haverty Furniture Companies has a 1 year low of $25.14 and a 1 year high of $37.05.

Haverty Furniture Companies (NYSE:HVTGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.19). The company had revenue of $184.00 million during the quarter, compared to analyst estimates of $192.70 million. Haverty Furniture Companies had a return on equity of 14.98% and a net margin of 5.64%. As a group, research analysts forecast that Haverty Furniture Companies will post 1.5 earnings per share for the current fiscal year.

Haverty Furniture Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.28 dividend on an annualized basis and a yield of 4.79%. This is an increase from Haverty Furniture Companies’s previous quarterly dividend of $0.30. Haverty Furniture Companies’s payout ratio is currently 46.55%.

Institutional Investors Weigh In On Haverty Furniture Companies

A number of institutional investors have recently bought and sold shares of the business. Rhumbline Advisers lifted its holdings in shares of Haverty Furniture Companies by 58.6% during the third quarter. Rhumbline Advisers now owns 114,258 shares of the company’s stock valued at $3,288,000 after acquiring an additional 42,198 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Haverty Furniture Companies by 109.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 59,178 shares of the company’s stock valued at $2,101,000 after acquiring an additional 30,894 shares during the period. Invesco Ltd. lifted its holdings in shares of Haverty Furniture Companies by 8.8% during the third quarter. Invesco Ltd. now owns 322,446 shares of the company’s stock valued at $9,280,000 after acquiring an additional 26,157 shares during the period. Denali Advisors LLC lifted its holdings in shares of Haverty Furniture Companies by 61.1% during the first quarter. Denali Advisors LLC now owns 56,400 shares of the company’s stock valued at $1,924,000 after acquiring an additional 21,400 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Haverty Furniture Companies by 34.7% during the fourth quarter. Russell Investments Group Ltd. now owns 82,205 shares of the company’s stock valued at $2,918,000 after acquiring an additional 21,159 shares during the period. Institutional investors and hedge funds own 80.57% of the company’s stock.

Haverty Furniture Companies Company Profile

(Get Free Report)

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.

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