Haverty Furniture Companies (NYSE:HVT) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Haverty Furniture (NYSE:HVT) from a "buy" to a "hold" rating, and other recent analyst actions leave the consensus rating at Hold.
• Haverty slightly beat the quarter—EPS $0.50 vs. $0.48 and revenue $201.92M vs. $197.47M—while the stock trades around $21.82 (market cap ~$352M, P/E 18.65) with a 1‑year range of $18.69–$27.67 and was down about 1.4% on the day.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Other research analysts have also issued reports about the stock. Zacks Research upgraded shares of Haverty Furniture Companies from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Weiss Ratings reiterated a "hold (c)" rating on shares of Haverty Furniture Companies in a research note on Friday, March 27th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Haverty Furniture Companies currently has a consensus rating of "Hold".

Haverty Furniture Companies Trading Down 1.4%

Haverty Furniture Companies stock opened at $21.82 on Friday. Haverty Furniture Companies has a 1-year low of $18.69 and a 1-year high of $27.67. The firm has a market capitalization of $352.17 million, a price-to-earnings ratio of 18.65, a P/E/G ratio of 1.01 and a beta of 1.20. The firm has a 50 day simple moving average of $22.36 and a 200 day simple moving average of $23.43.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last released its quarterly earnings data on Monday, February 23rd. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.02. Haverty Furniture Companies had a net margin of 2.60% and a return on equity of 6.45%. The business had revenue of $201.92 million during the quarter, compared to analyst estimates of $197.47 million. On average, equities research analysts forecast that Haverty Furniture Companies will post 1.83 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co boosted its holdings in Haverty Furniture Companies by 57.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company's stock valued at $40,000 after purchasing an additional 625 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 during the period. Hsbc Holdings PLC boosted its holdings in Haverty Furniture Companies by 1.6% in the 1st quarter. Hsbc Holdings PLC now owns 46,941 shares of the company's stock valued at $994,000 after purchasing an additional 737 shares during the period. First Trust Advisors LP boosted its holdings in Haverty Furniture Companies by 2.0% in the 2nd quarter. First Trust Advisors LP now owns 42,391 shares of the company's stock valued at $863,000 after purchasing an additional 843 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Haverty Furniture Companies in the 2nd quarter valued at $31,000. 80.57% of the stock is owned by 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.

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