Haverty Furniture Companies (HVT) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of Haverty Furniture Companies (NYSE:HVT) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Haverty Furniture Companies, Inc. (Havertys) is a full-service home furnishings retailer with over 100 showrooms in 16 states in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle to upper-middle price ranges. Havertys is a true retailing institution. “
Shares of Haverty Furniture Companies (HVT) remained flat at $$24.00 during trading hours on Wednesday. 73,306 shares of the company traded hands, compared to its average volume of 74,335. The company has a market capitalization of $509.26, a price-to-earnings ratio of 17.65, a PEG ratio of 4.50 and a beta of 1.13. The company has a current ratio of 2.17, a quick ratio of 1.16 and a debt-to-equity ratio of 0.18. Haverty Furniture Companies has a 12-month low of $21.05 and a 12-month high of $27.23.
Haverty Furniture Companies (NYSE:HVT) last issued its earnings results on Tuesday, October 31st. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.24 by $0.04. The company had revenue of $207.60 million during the quarter, compared to analysts’ expectations of $215.32 million. Haverty Furniture Companies had a net margin of 3.53% and a return on equity of 10.10%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 EPS. equities research analysts anticipate that Haverty Furniture Companies will post 1.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Tuesday, November 21st. Haverty Furniture Companies’s payout ratio is presently 44.12%.
In other news, Director Fred L. Schuermann sold 1,950 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $23.15, for a total value of $45,142.50. Following the completion of the transaction, the director now directly owns 3 shares in the company, valued at approximately $69.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.31% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Haverty Furniture Companies during the 2nd quarter worth approximately $103,000. Russell Investments Group Ltd. increased its position in Haverty Furniture Companies by 20.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 6,764 shares of the company’s stock worth $169,000 after purchasing an additional 1,164 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Haverty Furniture Companies by 53.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,165 shares of the company’s stock worth $180,000 after purchasing an additional 2,501 shares in the last quarter. Stephens Inc. AR acquired a new position in Haverty Furniture Companies during the 2nd quarter worth approximately $213,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Haverty Furniture Companies during the 3rd quarter worth approximately $290,000. Institutional investors and hedge funds own 80.69% of the company’s stock.
About Haverty Furniture Companies
Haverty Furniture Companies, Inc is a retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website, havertys.com. As of December 31, 2016, the Company had 124 stores in 16 states in the Southern and Midwest regions. As of December 31, 2016, the Company’s retail store space totaled approximately 4.5 million square feet for 124 stores.
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