Haverty Furniture Companies (NYSE:HVT) Shares Pass Above 200 Day Moving Average - Should You Sell?

Key Points

• Haverty Furniture Companies' stock price recently crossed above its 200-day moving average, currently trading at $22.74 with a high of $23.36 during the session.
• The company announced a quarterly dividend of $0.32, resulting in an annualized yield of 5.6%, despite a high dividend payout ratio of 111.30%.
• After a recent rating downgrade from "buy" to "hold" by Wall Street Zen, the average analyst rating for the stock is now a **"Hold."**

Haverty Furniture Companies, Inc. (NYSE:HVT - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $20.82 and traded as high as $23.36. Haverty Furniture Companies shares last traded at $22.74, with a volume of 90,049 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Haverty Furniture Companies from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold".

Haverty Furniture Companies Stock Up 0.1%

The firm's 50-day moving average is $22.24 and its 200-day moving average is $20.82. The company has a market capitalization of $369.93 million, a PE ratio of 19.77, a price-to-earnings-growth ratio of 1.66 and a beta of 1.24.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $181.03 million during the quarter, compared to the consensus estimate of $177.11 million. Haverty Furniture Companies had a net margin of 2.71% and a return on equity of 6.39%. As a group, equities research analysts predict that Haverty Furniture Companies, Inc. will post 0.88 EPS for the current year.

Haverty Furniture Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Monday, August 25th. Haverty Furniture Companies's dividend payout ratio is 111.30%.

Insider Activity at Haverty Furniture Companies

In related news, Director Rawson Haverty, Jr. sold 10,003 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $23.10, for a total transaction of $231,069.30. Following the transaction, the director owned 4,523 shares in the company, valued at $104,481.30. This represents a 68.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 40,000 shares of company stock worth $918,900 in the last 90 days. Corporate insiders own 8.63% of the company's stock.

Institutional Trading of Haverty Furniture Companies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its stake in shares of Haverty Furniture Companies by 1,929.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,522 shares of the company's stock worth $30,000 after buying an additional 1,447 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Haverty Furniture Companies during the 2nd quarter worth approximately $31,000. State of Wyoming purchased a new stake in Haverty Furniture Companies during the 2nd quarter worth approximately $58,000. Nisa Investment Advisors LLC grew its position in Haverty Furniture Companies by 509.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,736 shares of the company's stock worth $74,000 after purchasing an additional 3,123 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Haverty Furniture Companies by 163.0% in the 1st quarter. CWM LLC now owns 4,645 shares of the company's stock valued at $92,000 after acquiring an additional 2,879 shares during the last quarter. 80.57% of the stock is currently owned by institutional investors.

Haverty Furniture Companies Company Profile

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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