Separately, Zacks Investment Research raised shares of Haverty Furniture Cos. from a hold rating to a buy rating and set a $23.00 target price on the stock in a research note on Tuesday, August 16th.
Haverty Furniture Cos. (NYSE:HVT) traded down 1.79% on Monday, reaching $17.59. The company had a trading volume of 99,318 shares. The firm has a market capitalization of $371.22 million, a P/E ratio of 14.73 and a beta of 0.81. Haverty Furniture Cos. has a 1-year low of $16.57 and a 1-year high of $24.54. The company’s 50-day moving average price is $19.87 and its 200 day moving average price is $19.12.
Haverty Furniture Cos. (NYSE:HVT) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. Haverty Furniture Cos. had a net margin of 3.30% and a return on equity of 9.05%. The company had revenue of $194.80 million for the quarter, compared to analyst estimates of $194.80 million. During the same period in the prior year, the company earned $0.21 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts forecast that Haverty Furniture Cos. will post $1.28 EPS for the current year.
In other news, Chairman Clarence H. Smith sold 10,510 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $20.52, for a total transaction of $215,665.20. Following the sale, the chairman now directly owns 56,088 shares of the company’s stock, valued at approximately $1,150,925.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 10.51% of the company’s stock.
Several large investors have recently bought and sold shares of HVT. Royce & Associates LP raised 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 valued at $30,038,000 after buying an additional 205,200 shares during the last quarter. BlackRock Fund Advisors raised its stake in Haverty Furniture Cos. by 3.0% in the second quarter. BlackRock Fund Advisors now owns 1,346,799 shares of the company’s stock valued at $24,283,000 after buying an additional 38,617 shares during the last quarter. NWQ Investment Management Company LLC raised 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 valued at $28,169,000 after buying an additional 200,553 shares during the last quarter. Renaissance Technologies LLC raised 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 valued at $27,004,000 after buying an additional 104,100 shares during the last quarter. Finally, Vanguard Group Inc. raised 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 valued at $16,433,000 after buying an additional 82,918 shares during the last quarter. 70.32% of the stock is currently owned by institutional investors and hedge funds.
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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