Haverty Furniture Cos. (NYSE:HVT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “Haverty Furniture Companies, Inc. is a full-service home furnishings retailer. The company operates showrooms in contiguous southern and central states. Havertys provides its customers with a wide selection of furniture and accessories primarily in the middle to upper-middle price ranges. As an added convenience to its customers, the company offers financing through a revolving charge credit plan. “

Separately, Raymond James Financial Inc. upgraded shares of Haverty Furniture Cos. from an “outperform” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a research report on Tuesday, August 2nd.

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Haverty Furniture Cos. (NYSE:HVT) traded down 1.73% on Tuesday, reaching $17.60. 224,033 shares of the company’s stock were exchanged. Haverty Furniture Cos. has a 12-month low of $16.57 and a 12-month high of $24.54. The firm has a 50 day moving average of $19.78 and a 200-day moving average of $19.11. The company has a market cap of $371.43 million, a P/E ratio of 14.74 and a beta of 0.81.

Haverty Furniture Cos. (NYSE:HVT) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. The firm had revenue of $194.80 million for the quarter, compared to the consensus estimate of $194.80 million. Haverty Furniture Cos. had a net margin of 3.30% and a return on equity of 9.05%. Haverty Furniture Cos.’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.21 EPS. Equities analysts expect that Haverty Furniture Cos. will post $1.28 EPS for the current fiscal year.

In other Haverty Furniture Cos. news, Chairman Clarence H. Smith sold 10,510 shares of the business’s 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 in the company, valued at approximately $1,150,925.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.51% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in HVT. 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 during the period. BlackRock Fund Advisors increased 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 worth $24,283,000 after buying an additional 38,617 shares during the period. 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 during the period. 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 during the period. 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 during the period. Institutional investors own 70.32% of the company’s stock.

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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