Haverty Furniture Companies (NYSE:HVT) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Haverty Furniture Companies (NYSE:HVT) shares have surpassed their 200-day moving average of $20.66, reaching a high of $22.82 during trading, with the last trading price at $22.33.
• The company's quarterly earnings exceeded estimates, reporting $0.16 EPS against a consensus of $0.15, alongside a revenue of $181.03 million, surpassing expectations of $177.11 million.
• Haverty recently announced a quarterly dividend of $0.32 per share, reflecting an annualized yield of 5.7%, with a payout ratio currently at 111.30%.

Shares of Haverty Furniture Companies, Inc. (NYSE:HVT - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.66 and traded as high as $22.82. Haverty Furniture Companies shares last traded at $22.33, with a volume of 73,556 shares.

Analyst Ratings Changes

Several research analysts recently commented on the company. Sidoti raised Haverty Furniture Companies to a "hold" rating in a research report on Tuesday, April 29th. Wall Street Zen lowered Haverty Furniture Companies from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold".

Haverty Furniture Companies Price Performance

The firm has a 50 day simple moving average of $21.39 and a 200-day simple moving average of $20.66. The stock has a market capitalization of $379.28 million, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 1.71 and a beta of 1.42.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $177.11 million. On average, sell-side analysts forecast that Haverty Furniture Companies, Inc. will post 0.88 earnings per share for the current fiscal year.

Haverty Furniture Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th will be paid a $0.32 dividend. The ex-dividend date is Monday, August 25th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.5%. Haverty Furniture Companies's dividend payout ratio (DPR) is 111.30%.

Insider Buying and Selling at Haverty Furniture Companies

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

Institutional Trading of Haverty Furniture Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in HVT. PNC Financial Services Group Inc. increased its stake in shares of 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 buying an additional 1,447 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Haverty Furniture Companies in the second quarter valued at $31,000. State of Wyoming acquired a new stake in shares of Haverty Furniture Companies in the second quarter valued at $58,000. Nisa Investment Advisors LLC increased its stake in shares of Haverty Furniture Companies by 509.5% in the first quarter. Nisa Investment Advisors LLC now owns 3,736 shares of the company's stock valued at $74,000 after buying an additional 3,123 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Haverty Furniture Companies by 163.0% in the first quarter. CWM LLC now owns 4,645 shares of the company's stock valued at $92,000 after buying an additional 2,879 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 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.