Haverty Furniture Companies (NYSE:HVT) Lowered to Hold Rating by Wall Street Zen

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

Separately, Sidoti upgraded Haverty Furniture Companies to a “hold” rating in a research note on Tuesday, April 29th.

Haverty Furniture Companies Trading Up 1.1%

Haverty Furniture Companies stock opened at $22.39 on Friday. The stock has a market cap of $361.53 million, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 1.44 and a beta of 1.36. The stock has a 50 day moving average of $20.25 and a 200-day moving average of $20.79. Haverty Furniture Companies has a 52 week low of $17.01 and a 52 week high of $29.85.

Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.09. Haverty Furniture Companies had a return on equity of 6.94% and a net margin of 2.96%. The firm had revenue of $181.60 million for the quarter, compared to analysts’ expectations of $178.36 million. As a group, equities analysts predict that Haverty Furniture Companies will post 0.88 earnings per share for the current fiscal year.

Haverty Furniture Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 2nd were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 5.72%. The ex-dividend date was Monday, June 2nd. Haverty Furniture Companies’s dividend payout ratio (DPR) is presently 101.59%.

Insider Transactions at Haverty Furniture Companies

In related news, Director Rawson Haverty, Jr. sold 1,500 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $20.67, for a total transaction of $31,005.00. Following the transaction, the director directly owned 38,023 shares in the company, valued at $785,935.41. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Haverty Furniture Companies

Several large investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its holdings in shares of Haverty Furniture Companies by 38.1% during the fourth quarter. Ameriprise Financial Inc. now owns 145,764 shares of the company’s stock valued at $3,245,000 after acquiring an additional 40,218 shares during the period. Pzena Investment Management LLC increased its holdings in shares of Haverty Furniture Companies by 33.7% in the 4th quarter. Pzena Investment Management LLC now owns 962,102 shares of the company’s stock worth $21,416,000 after acquiring an additional 242,465 shares during the period. Barclays PLC increased its holdings in shares of Haverty Furniture Companies by 44.0% in the 4th quarter. Barclays PLC now owns 53,330 shares of the company’s stock worth $1,188,000 after acquiring an additional 16,283 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Haverty Furniture Companies in the 4th quarter worth about $511,000. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Haverty Furniture Companies by 115.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 100,212 shares of the company’s stock worth $2,231,000 after acquiring an additional 53,643 shares during the period. 80.57% of the stock is owned by institutional investors and hedge funds.

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.