Shares of Haverty Furniture Cos. (NYSE:HVT) have earned an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. Haverty Furniture Cos.’s rating score has improved by 20% in the last three months as a result of a number of analysts’ ratings changes.
Analysts have set a 1-year consensus price target of $23.00 for the company and are forecasting that the company will post $0.38 EPS for the current quarter, according to Zacks. Zacks has also given Haverty Furniture Cos. an industry rank of 207 out of 265 based on the ratings given to its competitors.
HVT has been the subject of a number of analyst reports. Zacks Investment Research upgraded Haverty Furniture Cos. from a “strong sell” rating to a “hold” rating and set a $21.00 price target for the company in a research report on Tuesday, June 7th. Raymond James Financial Inc. upgraded Haverty Furniture Cos. from an “outperform” rating to a “strong-buy” rating and set a $23.00 price target for the company in a research report on Tuesday, August 2nd.
In other news, Chairman Clarence H. Smith sold 10,510 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $20.52, for a total value of $215,665.20. Following the sale, the chairman now owns 56,088 shares of the company’s stock, valued at approximately $1,150,925.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.51% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Paradigm Capital Management Inc. NY increased its stake in Haverty Furniture Cos. by 241.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 404,422 shares of the company’s stock worth $7,291,000 after buying an additional 286,022 shares in the last quarter. Royce & Associates LP increased its stake in Haverty Furniture Cos. by 14.0% in the second quarter. Royce & Associates LP now owns 1,666,000 shares of the company’s stock worth $30,038,000 after buying an additional 205,200 shares in the last quarter. NWQ Investment Management Company LLC increased its stake in Haverty Furniture Cos. by 17.7% in the first quarter. NWQ Investment Management Company LLC now owns 1,331,247 shares of the company’s stock worth $28,169,000 after buying an additional 200,553 shares in the last quarter. Renaissance Technologies LLC increased its stake in Haverty Furniture Cos. by 8.9% in the first quarter. Renaissance Technologies LLC now owns 1,276,200 shares of the company’s stock worth $27,004,000 after buying an additional 104,100 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Haverty Furniture Cos. by 10.0% in the second quarter. Vanguard Group Inc. now owns 911,451 shares of the company’s stock worth $16,433,000 after buying an additional 82,918 shares in the last quarter. 70.32% of the stock is currently owned by institutional investors.
Haverty Furniture Cos. (NYSE:HVT) traded up 0.997% during mid-day trading on Tuesday, hitting $19.755. The company had a trading volume of 15,287 shares. The company’s 50 day moving average price is $20.06 and its 200-day moving average price is $19.17. Haverty Furniture Cos. has a one year low of $16.65 and a one year high of $24.54. The company has a market cap of $416.91 million, a PE ratio of 16.545 and a beta of 0.81.
Haverty Furniture Cos. (NYSE:HVT) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.05. Haverty Furniture Cos. had a return on equity of 9.05% and a net margin of 3.30%. The company earned $194.80 million during the quarter, compared to analyst estimates of $194.80 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Haverty Furniture Cos. will post $1.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 24th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Monday, August 22nd. This is an increase from Haverty Furniture Cos.’s previous quarterly dividend of $0.10. Haverty Furniture Cos.’s payout ratio is currently 40.00%.
About Haverty Furniture Cos.
Haverty Furniture Companies, Inc is a specialty retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website havertys.com. The Company has over 120 stores in approximately 20 states in the southern and Midwest regions with over 4.4 million square feet retail store space.
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