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

Key Points

• Haverty Furniture Companies' stock price has recently crossed above its 200-day moving average of $20.66, closing at $22.18 with a volume of 115,196 shares.
• The company has announced a quarterly dividend of $0.32 per share, resulting in an annualized dividend yield of 5.8%.
• Analyst ratings have varied, with Wall Street Zen downgrading the stock from a "buy" to a "hold" while Sidoti upgraded it to a "hold".

Shares of Haverty Furniture Companies, Inc. (NYSE:HVT - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.66 and traded as high as $22.32. Haverty Furniture Companies shares last traded at $22.18, with a volume of 115,196 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Haverty Furniture Companies from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Sidoti raised Haverty Furniture Companies to a "hold" rating in a research report on Tuesday, April 29th.

Haverty Furniture Companies Stock Performance

The business has a 50 day moving average price of $21.14 and a two-hundred day moving average price of $20.65. The stock has a market cap of $360.79 million, a PE ratio of 19.43, a P/E/G ratio of 1.64 and a beta of 1.42.

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

Haverty Furniture Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 25th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $1.28 dividend on an annualized basis and a yield of 5.7%. Haverty Furniture Companies's payout ratio is presently 111.30%.

Insider Transactions at Haverty Furniture Companies

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HVT. PNC Financial Services Group Inc. increased its stake in Haverty Furniture Companies by 1,929.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,522 shares of the company's stock valued at $30,000 after acquiring an additional 1,447 shares during the last quarter. Raymond James Financial Inc. bought a new position in Haverty Furniture Companies in the second quarter worth about $31,000. Nisa Investment Advisors LLC raised its stake in Haverty Furniture Companies by 509.5% in the first quarter. Nisa Investment Advisors LLC now owns 3,736 shares of the company's stock worth $74,000 after buying an additional 3,123 shares in the last quarter. CWM LLC increased its stake in shares of Haverty Furniture Companies by 163.0% during the first quarter. CWM LLC now owns 4,645 shares of the company's stock valued at $92,000 after purchasing an additional 2,879 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Haverty Furniture Companies by 7.9% during the first 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 in the last quarter. Institutional investors 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 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.