Haverty Furniture Companies (NYSE:HVT) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Haverty Furniture Companies, Inc. (NYSE:HVT)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.36 and traded as high as $23.67. Haverty Furniture Companies shares last traded at $23.4290, with a volume of 65,713 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HVT shares. Wall Street Zen downgraded shares of Haverty Furniture Companies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Haverty Furniture Companies in a research report on Friday, March 27th. Finally, Zacks Research lowered shares of Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Haverty Furniture Companies Stock Performance

The business’s 50 day simple moving average is $22.79 and its 200-day simple moving average is $23.37. The stock has a market capitalization of $369.22 million, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 1.03 and a beta of 1.33.

Haverty Furniture Companies (NYSE:HVT) last posted its earnings results on Monday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $201.92 million during the quarter, compared to analyst estimates of $197.47 million. Haverty Furniture Companies had a net margin of 2.60% and a return on equity of 6.45%. As a group, sell-side analysts expect that Haverty Furniture Companies, Inc. will post 1.88 EPS for the current year.

Haverty Furniture Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Tuesday, March 10th. Haverty Furniture Companies’s payout ratio is presently 112.82%.

Institutional Trading of Haverty Furniture Companies

A number of institutional investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC acquired a new stake in shares of Haverty Furniture Companies in the 4th quarter worth approximately $338,000. Millennium Management LLC lifted its stake in shares of Haverty Furniture Companies by 130.6% in the 4th quarter. Millennium Management LLC now owns 48,173 shares of the company’s stock worth $1,125,000 after acquiring an additional 27,280 shares during the period. Inspire Investing LLC acquired a new stake in shares of Haverty Furniture Companies in the 4th quarter worth approximately $1,186,000. Engineers Gate Manager LP lifted its stake in shares of Haverty Furniture Companies by 31.6% in the 4th quarter. Engineers Gate Manager LP now owns 17,736 shares of the company’s stock worth $414,000 after acquiring an additional 4,258 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Haverty Furniture Companies in the 4th quarter worth approximately $215,000. 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.