Haverty Furniture Companies (NYSE:HVT) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Haverty Furniture Companies, Inc. (NYSE:HVT) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.81 and traded as high as $26.36. Haverty Furniture Companies shares last traded at $26.24, with a volume of 51,827 shares.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HVT. Zacks Research downgraded shares of Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a report on Monday, December 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Haverty Furniture Companies in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Haverty Furniture Companies from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Haverty Furniture Companies presently has a consensus rating of “Reduce”.

Haverty Furniture Companies Stock Performance

The business’s fifty day moving average price is $24.56 and its two-hundred day moving average price is $22.81. The stock has a market capitalization of $426.92 million, a P/E ratio of 23.02, a P/E/G ratio of 1.05 and a beta of 1.28.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings results 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 company had revenue of $194.48 million during the quarter, compared to analyst estimates of $183.12 million. As a group, analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, November 25th were given a dividend of $0.33 per share. 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 an increase from Haverty Furniture Companies’s previous quarterly dividend of $0.32. Haverty Furniture Companies’s dividend payout ratio is presently 115.79%.

Insiders Place Their Bets

In related news, Director Rawson Haverty, Jr. sold 7,500 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $24.86, for a total value of $186,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 14,354 shares of company stock worth $345,898. Corporate insiders own 8.63% of the company’s stock.

Institutional Investors Weigh In On Haverty Furniture Companies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pzena Investment Management LLC lifted its holdings in shares of Haverty Furniture Companies by 61.5% in the 2nd quarter. Pzena Investment Management LLC now owns 1,560,557 shares of the company’s stock worth $31,757,000 after acquiring an additional 594,476 shares during the last quarter. Tectonic Advisors LLC purchased a new stake in Haverty Furniture Companies in the 4th quarter worth about $1,990,000. Jane Street Group LLC lifted its stake in Haverty Furniture Companies by 68.7% in the first quarter. Jane Street Group LLC now owns 172,099 shares of the company’s stock worth $3,394,000 after purchasing an additional 70,060 shares during the last quarter. Man Group plc bought a new stake in Haverty Furniture Companies in the third quarter worth about $1,425,000. Finally, 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. Hedge funds and other 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.