Haverty Furniture Companies (NYSE:HVT) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of Haverty Furniture Companies, Inc. (NYSE:HVT) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $23.63 and traded as high as $25.93. Haverty Furniture Companies shares last traded at $25.6180, with a volume of 401,221 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HVT shares. Wall Street Zen downgraded shares of Haverty Furniture Companies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered shares of Haverty Furniture Companies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Haverty Furniture Companies currently has an average rating of “Reduce”.

Haverty Furniture Companies Stock Up 1.9%

The company has a market capitalization of $412.19 million, a P/E ratio of 21.35, a PEG ratio of 1.30 and a beta of 1.20. The business has a 50 day simple moving average of $22.83 and a 200-day simple moving average of $23.63.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. The business had revenue of $189.05 million during the quarter, compared to analyst estimates of $191.99 million. Haverty Furniture Companies had a net margin of 2.64% and a return on equity of 6.60%. Equities analysts forecast that Haverty Furniture Companies, Inc. will post 1.62 EPS for the current fiscal year.

Haverty Furniture Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 1st were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Monday, June 1st. Haverty Furniture Companies’s payout ratio is presently 110.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Haverty Furniture Companies in the second quarter valued at approximately $31,000. CANADA LIFE ASSURANCE Co boosted its position in shares of Haverty Furniture Companies by 57.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company’s stock worth $40,000 after buying an additional 625 shares during the period. State of Alaska Department of Revenue bought a new position in Haverty Furniture Companies in the 4th quarter worth approximately $45,000. Fifth Third Bancorp bought a new position in Haverty Furniture Companies in the 1st quarter worth approximately $49,000. Finally, State of Wyoming bought a new position in Haverty Furniture Companies in the 2nd quarter worth approximately $58,000. Institutional investors own 80.57% of the company’s stock.

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.