Haverty Furniture Companies (HVT) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Haverty Furniture Companies (NYSE:HVT) from a buy rating to a hold rating in a research report released on Saturday.

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. “

A number of other equities analysts also recently issued reports on the company. TheStreet raised Haverty Furniture Companies from a c+ rating to a b rating in a research report on Thursday, August 23rd. ValuEngine downgraded Haverty Furniture Companies from a hold rating to a sell rating in a research report on Tuesday, July 24th.

NYSE:HVT traded up $0.75 during trading hours on Friday, reaching $21.17. The company’s stock had a trading volume of 134,555 shares, compared to its average volume of 76,296. The company has a market capitalization of $443.87 million, a price-to-earnings ratio of 15.57 and a beta of 0.81. Haverty Furniture Companies has a 12 month low of $17.70 and a 12 month high of $25.10. The company has a quick ratio of 1.12, a current ratio of 2.28 and a debt-to-equity ratio of 0.16.

Haverty Furniture Companies (NYSE:HVT) last issued its quarterly earnings data on Tuesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The company had revenue of $210.50 million during the quarter, compared to the consensus estimate of $212.43 million. Haverty Furniture Companies had a net margin of 2.89% and a return on equity of 10.11%. Haverty Furniture Companies’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. On average, sell-side analysts expect that Haverty Furniture Companies will post 1.37 EPS for the current year.

In other news, Director G. Thomas Hough bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were purchased at an average cost of $21.50 per share, with a total value of $43,000.00. Following the transaction, the director now directly owns 1,883 shares in the company, valued at $40,484.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.05% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its position in shares of Haverty Furniture Companies by 66.8% in the 1st quarter. Barclays PLC now owns 7,433 shares of the company’s stock valued at $150,000 after acquiring an additional 2,976 shares during the period. SG Americas Securities LLC acquired a new position in shares of Haverty Furniture Companies in the 2nd quarter valued at $166,000. Engineers Gate Manager LP acquired a new position in shares of Haverty Furniture Companies in the 3rd quarter valued at $236,000. First Trust Advisors LP increased its position in shares of Haverty Furniture Companies by 17.3% in the 2nd quarter. First Trust Advisors LP now owns 21,883 shares of the company’s stock valued at $473,000 after acquiring an additional 3,223 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Haverty Furniture Companies by 104.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 28,151 shares of the company’s stock valued at $623,000 after acquiring an additional 14,391 shares during the period. 80.78% 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 accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products, as well as mattress product lines under the Sealy, Tempur-Pedic, Serta, Stearns & Foster, and Beautyrest Black names.

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