Haverty Furniture Companies (NYSE:HVT) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Haverty Furniture Companies, Inc. (NYSE:HVT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $23.59 and traded as high as $24.73. Haverty Furniture Companies shares last traded at $24.3570, with a volume of 185,587 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HVT shares. Weiss Ratings lowered Haverty Furniture Companies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Wall Street Zen cut Haverty Furniture Companies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Zacks Research downgraded Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Haverty Furniture Companies Stock Up 2.4%

The company has a market cap of $391.90 million, a PE ratio of 20.30, a P/E/G ratio of 1.23 and a beta of 1.20. The firm’s fifty day simple moving average is $22.53 and its 200-day simple moving average is $23.59.

Haverty Furniture Companies (NYSE:HVT) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Haverty Furniture Companies had a return on equity of 6.60% and a net margin of 2.64%.The firm had revenue of $189.05 million during the quarter, compared to the consensus estimate of $191.99 million. On average, analysts predict that Haverty Furniture Companies, Inc. will post 1.62 earnings per share for the current year.

Haverty Furniture Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 1st were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date was Monday, June 1st. Haverty Furniture Companies’s dividend payout ratio is 110.00%.

Hedge Funds Weigh In On Haverty Furniture Companies

A number of institutional investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co lifted its position in shares of Haverty Furniture Companies by 57.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company’s stock valued at $40,000 after acquiring an additional 625 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Haverty Furniture Companies by 7.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock valued at $175,000 after acquiring an additional 651 shares during the last quarter. Hsbc Holdings PLC increased its position in Haverty Furniture Companies by 1.6% during the 1st quarter. Hsbc Holdings PLC now owns 46,941 shares of the company’s stock worth $994,000 after purchasing an additional 737 shares in the last quarter. First Trust Advisors LP increased its position in Haverty Furniture Companies by 2.0% during the 2nd quarter. First Trust Advisors LP now owns 42,391 shares of the company’s stock worth $863,000 after purchasing an additional 843 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Haverty Furniture Companies by 4.8% in the 1st quarter. Bank of America Corp DE now owns 26,230 shares of the company’s stock valued at $556,000 after purchasing an additional 1,195 shares during the last quarter. 80.57% of the stock is owned by institutional investors and hedge funds.

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.