Haverty Furniture Cos. (HVT) Stock Rating Lowered by Raymond James Financial Inc.
Haverty Furniture Cos. (NYSE:HVT) was downgraded by equities research analysts at Raymond James Financial Inc. from a “strong-buy” rating to a “market perform” rating in a report issued on Monday.
Separately, Zacks Investment Research upgraded Haverty Furniture Cos. from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Monday, June 13th.
Shares of Haverty Furniture Cos. (NYSE:HVT) opened at 19.76 on Monday. Haverty Furniture Cos. has a 1-year low of $16.65 and a 1-year high of $24.54. The company has a 50 day moving average price of $19.95 and a 200 day moving average price of $19.16. The stock has a market cap of $417.02 million, a P/E ratio of 16.55 and a beta of 0.81.
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Haverty Furniture Cos. (NYSE:HVT) last announced its earnings results on Monday, August 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business earned $194.80 million during the quarter, compared to analyst estimates of $194.80 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate 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 Haverty Furniture Cos. stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $20.52, for a total transaction of $215,665.20. Following the completion of the sale, the chairman now owns 56,088 shares of the company’s stock, valued at $1,150,925.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.51% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its stake in Haverty Furniture Cos. by 107.2% in the second quarter. BNP Paribas Arbitrage SA now owns 6,187 shares of the company’s stock valued at $112,000 after buying an additional 3,201 shares in the last quarter. Bank of Montreal Can bought a new stake in Haverty Furniture Cos. during the second quarter valued at $164,000. BlackRock Inc. increased its stake in Haverty Furniture Cos. by 696.2% in the second quarter. BlackRock Inc. now owns 9,961 shares of the company’s stock valued at $180,000 after buying an additional 8,710 shares in the last quarter. Arizona State Retirement System increased its stake in Haverty Furniture Cos. by 1.9% in the second quarter. Arizona State Retirement System now owns 10,475 shares of the company’s stock valued at $189,000 after buying an additional 200 shares in the last quarter. Finally, Springbok Capital Management LLC increased its stake in Haverty Furniture Cos. by 15.6% in the first quarter. Springbok Capital Management LLC now owns 12,600 shares of the company’s stock valued at $267,000 after buying an additional 1,700 shares in the last quarter. 70.32% of the stock is owned by hedge funds and other institutional investors.
Haverty Furniture Cos. Company Profile
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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