Zacks Research Downgrades Haverty Furniture Companies (NYSE:HVT) to Strong Sell

Haverty Furniture Companies (NYSE:HVT) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also weighed in on HVT. Wall Street Zen raised Haverty Furniture Companies from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 9th. Weiss Ratings restated a “hold (c)” rating on shares of Haverty Furniture Companies in a research note on Monday. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce”.

Haverty Furniture Companies Stock Performance

NYSE HVT opened at $23.64 on Monday. The firm’s fifty day moving average is $23.12 and its two-hundred day moving average is $22.20. The firm has a market cap of $384.59 million, a PE ratio of 20.74, a P/E/G ratio of 1.70 and a beta of 1.27. Haverty Furniture Companies has a one year low of $17.01 and a one year high of $25.27.

Haverty Furniture Companies (NYSE:HVT) last announced its earnings results on Wednesday, October 29th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.04. Haverty Furniture Companies had a return on equity of 6.34% and a net margin of 2.62%.The company had revenue of $194.48 million for the quarter, compared to the consensus estimate of $183.12 million. Research analysts predict that Haverty Furniture Companies will post 0.88 earnings per share for the current year.

Insider Buying and Selling at Haverty Furniture Companies

In other news, Director Rawson Haverty, Jr. sold 7,500 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $24.86, for a total value of $186,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 14,354 shares of company stock valued at $345,898 in the last three months. Company insiders own 8.63% of the company’s stock.

Institutional Investors Weigh In On Haverty Furniture Companies

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in Haverty Furniture Companies during the second quarter worth about $31,000. State of Wyoming acquired a new stake in shares of Haverty Furniture Companies in the second quarter valued at approximately $58,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Haverty Furniture Companies by 7.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock worth $175,000 after purchasing an additional 651 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Haverty Furniture Companies by 146.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,201 shares of the company’s stock worth $187,000 after purchasing an additional 5,465 shares during the last quarter. Finally, Truist Financial Corp purchased a new stake in Haverty Furniture Companies in the 2nd quarter valued at approximately $204,000. 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 home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.