Haverty Furniture Companies, Inc. (NYSE:HVT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

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, ValuEngine upgraded Haverty Furniture Companies from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.00.

Haverty Furniture Companies (NYSE HVT) traded down 1.58% on Thursday, hitting $24.90. 85,592 shares of the company were exchanged. The stock’s 50-day moving average price is $23.45 and its 200-day moving average price is $23.60. The stock has a market capitalization of $528.33 million, a P/E ratio of 17.57 and a beta of 1.11. Haverty Furniture Companies has a 52-week low of $16.57 and a 52-week high of $26.30.

Haverty Furniture Companies (NYSE:HVT) last issued its quarterly earnings results on Monday, July 31st. The company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.10. Haverty Furniture Companies had a return on equity of 10.58% and a net margin of 3.67%. The firm had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $199.03 million. During the same period in the previous year, the business earned $0.24 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Haverty Furniture Companies will post $1.28 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This story was published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.americanbankingnews.com/2017/08/10/haverty-furniture-companies-inc-nysehvt-rating-increased-to-hold-at-zacks-investment-research.html.

In other Haverty Furniture Companies news, insider Rawson Haverty, Jr. sold 1,964 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $23.52, for a total value of $46,193.28. Following the completion of the sale, the insider now directly owns 400 shares in the company, valued at approximately $9,408. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steven G. Burdette sold 4,800 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $23.50, for a total value of $112,800.00. Following the completion of the sale, the insider now owns 3,657 shares of the company’s stock, valued at $85,939.50. The disclosure for this sale can be found here. 10.31% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of Haverty Furniture Companies during the second quarter valued at about $103,000. Mason Street Advisors LLC boosted its stake in shares of Haverty Furniture Companies by 8.2% in the first quarter. Mason Street Advisors LLC now owns 4,514 shares of the company’s stock valued at $110,000 after buying an additional 342 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Haverty Furniture Companies by 569.9% in the first quarter. Russell Investments Group Ltd. now owns 5,600 shares of the company’s stock valued at $136,000 after buying an additional 4,764 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Haverty Furniture Companies by 53.6% in the second quarter. BNP Paribas Arbitrage SA now owns 7,165 shares of the company’s stock valued at $180,000 after buying an additional 2,501 shares during the last quarter. Finally, Stephens Inc. AR bought a new stake in shares of Haverty Furniture Companies during the second quarter valued at about $213,000. Institutional investors own 78.75% of the company’s stock.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc is a retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website, havertys.com. As of December 31, 2016, the Company had 124 stores in 16 states in the Southern and Midwest regions. As of December 31, 2016, the Company’s retail store space totaled approximately 4.5 million square feet for 124 stores.

Get a free copy of the Zacks research report on Haverty Furniture Companies (HVT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Haverty Furniture Companies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Haverty Furniture Companies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.