Haverty Furniture Companies (NYSE:HVT) Lowered to C+ at TheStreet

TheStreet cut shares of Haverty Furniture Companies (NYSE:HVT) from a b- rating to a c+ rating in a research note issued to investors on Friday, May 31st, TheStreetRatingsTable reports.

Several other equities analysts have also recently commented on HVT. ValuEngine cut shares of Haverty Furniture Companies from a hold rating to a sell rating in a report on Saturday, May 18th. Zacks Investment Research cut shares of Haverty Furniture Companies from a buy rating to a hold rating in a report on Tuesday, May 7th.

Shares of NYSE HVT traded down $0.28 during trading on Friday, hitting $16.77. The company had a trading volume of 96,000 shares, compared to its average volume of 146,605. The company has a market cap of $349.28 million, a P/E ratio of 11.81 and a beta of 1.07. Haverty Furniture Companies has a 52 week low of $15.81 and a 52 week high of $25.09. The firm has a 50-day moving average of $17.43.

Haverty Furniture Companies (NYSE:HVT) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.05). Haverty Furniture Companies had a net margin of 3.43% and a return on equity of 9.68%. The company had revenue of $187.24 million during the quarter, compared to the consensus estimate of $198.82 million. During the same period in the prior year, the company posted $0.29 EPS. Haverty Furniture Companies’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, analysts anticipate that Haverty Furniture Companies will post 1.33 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Tuesday, June 4th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Monday, June 3rd. Haverty Furniture Companies’s payout ratio is presently 50.70%.

In other Haverty Furniture Companies news, VP Steven G. Burdette sold 4,700 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $18.10, for a total transaction of $85,070.00. Following the completion of the transaction, the vice president now owns 5,233 shares of the company’s stock, valued at approximately $94,717.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director G. Thomas Hough bought 3,000 shares of the business’s stock in a transaction on Friday, May 17th. The shares were purchased at an average cost of $17.91 per share, with a total value of $53,730.00. Following the transaction, the director now owns 4,748 shares in the company, valued at $85,036.68. The disclosure for this purchase can be found here. 9.27% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in HVT. Vanguard Group Inc. boosted its position in shares of Haverty Furniture Companies by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,124,571 shares of the company’s stock worth $24,852,000 after acquiring an additional 26,333 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Haverty Furniture Companies by 2.1% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 84,520 shares of the company’s stock worth $1,868,000 after acquiring an additional 1,748 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Haverty Furniture Companies by 4.9% during the 4th quarter. Arizona State Retirement System now owns 29,224 shares of the company’s stock worth $549,000 after acquiring an additional 1,369 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Haverty Furniture Companies by 20.9% during the 4th quarter. Rhumbline Advisers now owns 55,132 shares of the company’s stock worth $1,035,000 after acquiring an additional 9,524 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Haverty Furniture Companies by 119.3% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 47,884 shares of the company’s stock worth $899,000 after acquiring an additional 26,051 shares in the last quarter. 85.25% 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, as well as mattress product lines under the Sealy, Tempur-Pedic, Serta, Stearns & Foster, and Beautyrest Black names.

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