Haverty Furniture Companies (NYSE:HVT) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Haverty Furniture Companies, Inc. (NYSE:HVT) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $22.58 and traded as high as $26.72. Haverty Furniture Companies shares last traded at $26.44, with a volume of 95,567 shares traded.

Analysts Set New Price Targets

HVT has been the topic of a number of recent analyst reports. Zacks Research downgraded Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a research note on Monday, December 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Haverty Furniture Companies in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Haverty Furniture Companies from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 9th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Haverty Furniture Companies Stock Down 0.0%

The stock has a 50-day simple moving average of $24.01 and a two-hundred day simple moving average of $22.58. The firm has a market cap of $430.18 million, a PE ratio of 23.19, a P/E/G ratio of 1.03 and a beta of 1.28.

Haverty Furniture Companies (NYSE:HVT) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. The business had revenue of $194.48 million for the quarter, compared to analyst estimates of $183.12 million. Haverty Furniture Companies had a return on equity of 6.34% and a net margin of 2.62%. Research analysts expect that Haverty Furniture Companies, Inc. will post 0.88 earnings per share for the current year.

Haverty Furniture Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, November 25th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $1.32 annualized dividend and a dividend yield of 5.0%. This is a boost from Haverty Furniture Companies’s previous quarterly dividend of $0.32. Haverty Furniture Companies’s payout ratio is presently 115.79%.

Insiders Place Their Bets

In other news, Director Rawson Haverty, Jr. sold 7,500 shares of the 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 available at the SEC website. Over the last ninety days, insiders sold 14,354 shares of company stock valued at $345,898. 8.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Haverty Furniture Companies

Large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Haverty Furniture Companies by 7.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock worth $175,000 after acquiring an additional 651 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Haverty Furniture Companies by 2.0% during the second quarter. First Trust Advisors LP now owns 42,391 shares of the company’s stock valued at $863,000 after acquiring an additional 843 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Haverty Furniture Companies in the 2nd quarter worth $31,000. Inspire Investing LLC raised its position in Haverty Furniture Companies by 8.9% during the 2nd quarter. Inspire Investing LLC now owns 18,987 shares of the company’s stock worth $386,000 after buying an additional 1,556 shares during the last quarter. Finally, Essex Investment Management Co. LLC lifted its position in Haverty Furniture Companies by 3.4% during the third quarter. Essex Investment Management Co. LLC now owns 75,658 shares of the company’s stock valued at $1,659,000 after purchasing an additional 2,458 shares during the period. Institutional investors own 80.57% of the company’s stock.

About Haverty Furniture Companies

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.