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

Haverty Furniture Companies (NYSE:HVT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Haverty Furniture Companies Stock Down 0.5 %

NYSE:HVT opened at $23.74 on Friday. The stock has a market cap of $389.57 million, a P/E ratio of 10.23, a PEG ratio of 1.42 and a beta of 1.45. The business’s 50-day moving average price is $26.37 and its two-hundred day moving average price is $27.31. Haverty Furniture Companies has a twelve month low of $23.09 and a twelve month high of $37.05.

Haverty Furniture Companies (NYSE:HVT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.09. Haverty Furniture Companies had a net margin of 4.91% and a return on equity of 12.58%. The company had revenue of $178.60 million for the quarter, compared to analysts’ expectations of $182.37 million. On average, equities research analysts expect that Haverty Furniture Companies will post 1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Haverty Furniture Companies

Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Haverty Furniture Companies by 22.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,545 shares of the company’s stock valued at $140,000 after buying an additional 1,034 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in Haverty Furniture Companies during the first quarter valued at approximately $206,000. Harbor Capital Advisors Inc. raised its stake in shares of Haverty Furniture Companies by 79.9% during the second quarter. Harbor Capital Advisors Inc. now owns 7,772 shares of the company’s stock worth $197,000 after acquiring an additional 3,451 shares in the last quarter. EMC Capital Management lifted its holdings in shares of Haverty Furniture Companies by 10.3% in the 1st quarter. EMC Capital Management now owns 8,064 shares of the company’s stock worth $275,000 after acquiring an additional 750 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Haverty Furniture Companies by 179.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,506 shares of the company’s stock valued at $324,000 after purchasing an additional 6,101 shares in the last quarter. Institutional investors own 80.57% of the company’s stock.

About Haverty Furniture Companies

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.