Haverty Furniture Companies (NYSE:HVT) Stock Crosses Above 200 Day Moving Average – What’s Next?

Haverty Furniture Companies, Inc. (NYSE:HVT)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $22.35 and traded as high as $24.78. Haverty Furniture Companies shares last traded at $24.5290, with a volume of 45,625 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HVT. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Haverty Furniture Companies in a report on Monday, December 29th. Zacks Research lowered Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded Haverty Furniture Companies from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 9th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

Haverty Furniture Companies Price Performance

The firm’s 50 day simple moving average is $23.55 and its two-hundred day simple moving average is $22.35. The firm has a market capitalization of $399.01 million, a P/E ratio of 21.52, a P/E/G ratio of 0.96 and a beta of 1.28.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04. Haverty Furniture Companies had a return on equity of 6.34% and a net margin of 2.62%.The firm had revenue of $194.48 million for the quarter, compared to the consensus estimate of $183.12 million. As a group, equities research analysts forecast that Haverty Furniture Companies, Inc. will post 0.88 EPS for the current year.

Haverty Furniture Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 25th were given a $0.33 dividend. The ex-dividend date was Tuesday, November 25th. This is an increase from Haverty Furniture Companies’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 5.4%. Haverty Furniture Companies’s dividend payout ratio is presently 115.79%.

Insider Buying and Selling at Haverty Furniture Companies

In other news, Director Rawson Haverty, Jr. sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $24.86, for a total value of $186,450.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 14,354 shares of company stock worth $345,898 over the last ninety days. Corporate insiders own 8.63% of the company’s stock.

Institutional Investors Weigh In On Haverty Furniture Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HVT. Pzena Investment Management LLC increased its holdings in Haverty Furniture Companies by 61.5% during the 2nd quarter. Pzena Investment Management LLC now owns 1,560,557 shares of the company’s stock valued at $31,757,000 after purchasing an additional 594,476 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Haverty Furniture Companies in the 3rd quarter worth approximately $1,123,000. Truist Financial Corp purchased a new position in shares of Haverty Furniture Companies during the second quarter valued at approximately $204,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Haverty Furniture Companies during the second quarter valued at approximately $1,288,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Haverty Furniture Companies by 8.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 337,889 shares of the company’s stock valued at $6,876,000 after acquiring an additional 24,945 shares in the last quarter. 80.57% of the stock is currently owned by institutional investors.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.