Haverty Furniture Companies (NYSE:HVT) Cut to Strong Sell at Zacks Research

Haverty Furniture Companies (NYSE:HVT) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

HVT has been the subject of a number of other reports. Wall Street Zen lowered 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. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Haverty Furniture Companies has an average rating of “Reduce”.

Haverty Furniture Companies Trading Up 3.2%

NYSE HVT opened at $23.73 on Tuesday. Haverty Furniture Companies has a 12-month low of $19.32 and a 12-month high of $27.67. The company has a fifty day simple moving average of $21.84 and a two-hundred day simple moving average of $23.55. The stock has a market cap of $381.88 million, a P/E ratio of 19.78, a P/E/G ratio of 1.19 and a beta of 1.20.

Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Haverty Furniture Companies had a net margin of 2.64% and a return on equity of 6.60%. The firm had revenue of $189.05 million for the quarter, compared to analyst estimates of $191.99 million. As a group, sell-side analysts forecast that Haverty Furniture Companies will post 1.62 earnings per share for the current year.

Institutional Trading of Haverty Furniture Companies

A number of hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Haverty Furniture Companies by 13.8% in the first quarter. Royal Bank of Canada now owns 27,073 shares of the company’s stock worth $534,000 after acquiring an additional 3,293 shares during the period. AQR Capital Management LLC increased its stake in shares of Haverty Furniture Companies by 30.5% in the 1st quarter. AQR Capital Management LLC now owns 162,821 shares of the company’s stock valued at $3,211,000 after purchasing an additional 38,074 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 valued at $175,000 after purchasing an additional 651 shares in the last quarter. Empowered Funds LLC grew its holdings in Haverty Furniture Companies by 7.4% in the first quarter. Empowered Funds LLC now owns 92,185 shares of the company’s stock valued at $1,818,000 after purchasing an additional 6,387 shares during the period. Finally, Jane Street Group LLC grew its holdings 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 valued at $3,394,000 after purchasing an additional 70,060 shares during the period. 80.57% of the stock is owned by hedge funds and other institutional investors.

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.