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

Key Points

• Haverty Furniture shares crossed above their 200-day moving average, reaching $26.18 before last trading at about $25.90, compared with a 200-day average of $23.80.
• Analysts remain cautious: recent research changes left the stock with an overall “Hold” rating, while the company reported quarterly EPS of $0.26, matching estimates, but revenue of $189.05 million below consensus.
• Haverty declared a quarterly dividend of $0.33 per share, equivalent to a 5.1% annualized yield; however, its 110% payout ratio exceeds reported earnings. Institutional investors own approximately 80.6% of the stock.

Shares of Haverty Furniture Companies, Inc. (NYSE:HVT - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $23.80 and traded as high as $26.18. Haverty Furniture Companies shares last traded at $25.9020, with a volume of 73,244 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HVT. Zacks Research upgraded shares of Haverty Furniture Companies from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Wall Street Zen lowered Haverty Furniture Companies from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings cut shares of Haverty Furniture Companies from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Haverty Furniture Companies presently has an average rating of "Hold".

Haverty Furniture Companies Trading Down 0.9%

The stock has a 50-day moving average price of $24.37 and a two-hundred day moving average price of $23.80. The stock has a market cap of $416.76 million, a price-to-earnings ratio of 21.59, a PEG ratio of 1.35 and a beta of 1.18.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Haverty Furniture Companies had a return on equity of 6.60% and a net margin of 2.64%.The business had revenue of $189.05 million during the quarter, compared to the consensus estimate of $191.99 million. Research analysts predict that Haverty Furniture Companies, Inc. will post 1.62 earnings per share for the current fiscal year.

Haverty Furniture Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 1st were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.1%. The ex-dividend date was Monday, June 1st. Haverty Furniture Companies's payout ratio is presently 110.00%.

Institutional Trading of Haverty Furniture Companies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE grew its position in Haverty Furniture Companies by 4.8% during the 1st quarter. Bank of America Corp DE now owns 26,230 shares of the company's stock worth $556,000 after purchasing an additional 1,195 shares during the period. Empowered Funds LLC increased its position in shares of Haverty Furniture Companies by 10.7% in the first quarter. Empowered Funds LLC now owns 117,502 shares of the company's stock valued at $2,489,000 after buying an additional 11,318 shares in the last quarter. Quantinno Capital Management LP increased its holdings in Haverty Furniture Companies by 32.4% in the 1st quarter. Quantinno Capital Management LP now owns 28,573 shares of the company's stock worth $605,000 after acquiring an additional 6,989 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Haverty Furniture Companies by 13.5% during the 1st quarter. Lazard Asset Management LLC now owns 81,536 shares of the company's stock worth $1,727,000 after purchasing an additional 9,697 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Haverty Furniture Companies by 2.8% during the 1st quarter. Renaissance Technologies LLC now owns 719,830 shares of the company's stock worth $15,246,000 after buying an additional 19,624 shares in the last quarter. Institutional investors and hedge funds own 80.57% of the company's stock.

Haverty Furniture Companies Company Profile

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.