Haverty Furniture Companies (NYSE:HVT) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Shares crossed above their 200-day moving average, trading as high as $23.67 and last at $23.43 versus a 200-day MA of $23.36, a short-term technical bullish indicator.
• Sell‑side sentiment is negative with a MarketBeat consensus rating of Reduce (two Holds and one Sell) after recent downgrades.
• The stock yields 5.6% ($1.32 annualized) but the dividend payout ratio is 112.82%; the company beat quarterly EPS estimates ($0.50 vs. $0.48) while trading at a market cap of ~$378M and a P/E of 20.02, suggesting the high yield may not be sustainable.

Shares of Haverty Furniture Companies, Inc. (NYSE:HVT - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.36 and traded as high as $23.67. Haverty Furniture Companies shares last traded at $23.4290, with a volume of 65,713 shares trading hands.

Wall Street Analyst Weigh In

HVT has been the topic of a number of recent research reports. Weiss Ratings restated a "hold (c)" rating on shares of Haverty Furniture Companies in a research report on Friday, March 27th. Wall Street Zen lowered shares of Haverty Furniture Companies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. Finally, Zacks Research lowered shares of Haverty Furniture Companies from a "hold" rating to a "strong sell" rating in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Haverty Furniture Companies has a consensus rating of "Reduce".

Haverty Furniture Companies Stock Performance

The firm has a market capitalization of $378.14 million, a P/E ratio of 20.02, a P/E/G ratio of 1.03 and a beta of 1.33. The stock's 50 day simple moving average is $22.93 and its 200 day simple moving average is $23.36.

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 (EPS) 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 firm had revenue of $201.92 million for the quarter, compared to the consensus estimate of $197.47 million. On average, analysts anticipate that Haverty Furniture Companies, Inc. will post 1.88 earnings per share for the current year.

Haverty Furniture Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, March 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.6%. Haverty Furniture Companies's dividend payout ratio (DPR) is currently 112.82%.

Institutional Investors Weigh In On Haverty Furniture Companies

Institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in Haverty Furniture Companies in the third quarter valued at approximately $1,118,000. Assenagon Asset Management S.A. acquired a new stake in Haverty Furniture Companies in the third quarter valued at approximately $1,123,000. Tectonic Advisors LLC acquired a new stake in Haverty Furniture Companies in the fourth quarter valued at approximately $1,990,000. SG Capital Management LLC acquired a new stake in Haverty Furniture Companies in the third quarter valued at approximately $325,000. Finally, Essex Investment Management Co. LLC boosted its stake in Haverty Furniture Companies by 3.4% in the third quarter. Essex Investment Management Co. LLC now owns 75,658 shares of the company's stock valued at $1,659,000 after acquiring an additional 2,458 shares in the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.