Haverty Furniture Companies (NYSE:HVT) Rating Lowered to Hold at Wall Street Zen

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

Separately, Sidoti raised Haverty Furniture Companies to a "hold" rating in a research note on Tuesday, April 29th.

Haverty Furniture Companies Trading Up 1.1%

HVT stock opened at $22.39 on Friday. The firm has a market cap of $361.53 million, a PE ratio of 17.77, a PEG ratio of 1.44 and a beta of 1.36. Haverty Furniture Companies has a 1 year low of $17.01 and a 1 year high of $29.85. The company has a fifty day simple moving average of $20.25 and a 200 day simple moving average of $20.80.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.09. Haverty Furniture Companies had a return on equity of 6.94% and a net margin of 2.96%. The company had revenue of $181.60 million for the quarter, compared to analyst estimates of $178.36 million. As a group, analysts forecast that Haverty Furniture Companies will post 0.88 EPS for the current fiscal year.

Insider Activity

In related news, Director Rawson Haverty, Jr. sold 1,500 shares of Haverty Furniture Companies stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $20.67, for a total value of $31,005.00. Following the transaction, the director owned 38,023 shares in the company, valued at $785,935.41. This trade represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.63% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in shares of Haverty Furniture Companies by 38.1% in the fourth quarter. Ameriprise Financial Inc. now owns 145,764 shares of the company's stock worth $3,245,000 after purchasing an additional 40,218 shares during the period. Pzena Investment Management LLC grew its holdings in Haverty Furniture Companies by 33.7% in the 4th quarter. Pzena Investment Management LLC now owns 962,102 shares of the company's stock valued at $21,416,000 after buying an additional 242,465 shares during the last quarter. Barclays PLC grew its holdings in Haverty Furniture Companies by 44.0% in the 4th quarter. Barclays PLC now owns 53,330 shares of the company's stock valued at $1,188,000 after buying an additional 16,283 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Haverty Furniture Companies in the 4th quarter worth approximately $511,000. Finally, D. E. Shaw & Co. Inc. increased its position in Haverty Furniture Companies by 115.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 100,212 shares of the company's stock worth $2,231,000 after buying an additional 53,643 shares during the period. Institutional investors and hedge funds 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 accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products and eclectic looks; and mattress product lines under the Tempur-Pedic, Serta, Sealy, and Stearns and Foster names.

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