Haverty Furniture Companies (NYSE:HVT) Shares Cross Above Two Hundred Day Moving Average - Here's Why

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%.

Haverty Furniture Companies, Inc. (NYSE:HVT - Get Free Report)'s share price crossed 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.

Analysts Set New Price Targets

A number of analysts recently weighed in on HVT shares. Sidoti raised shares of Haverty Furniture Companies to a "hold" rating in a research report on Tuesday, April 29th. Wall Street Zen cut shares of 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, Haverty Furniture Companies currently has a consensus rating of "Hold".

Haverty Furniture Companies Stock Performance

The firm has a market cap of $372.88 million, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.42. The business's 50 day moving average price is $21.51 and its 200-day moving average price is $20.68.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. The business had revenue of $181.03 million for the quarter, compared to analyst estimates of $177.11 million. Haverty Furniture Companies had a net margin of 2.71% and a return on equity of 6.39%. On average, analysts forecast that Haverty Furniture Companies, Inc. will post 0.88 earnings per share for the current fiscal year.

Haverty Furniture Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 annualized dividend and a dividend yield of 5.6%. Haverty Furniture Companies's dividend payout ratio (DPR) is presently 111.30%.

Insider Activity at Haverty Furniture Companies

In other Haverty Furniture Companies news, Director Rawson Haverty, Jr. sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $20.67, for a total value of $31,005.00. Following the sale, the director 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.63% of the company's stock.

Institutional Investors Weigh In On Haverty Furniture Companies

Large investors have recently made changes to their positions in the company. 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 purchasing an additional 1,447 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Haverty Furniture Companies in the second quarter valued at approximately $31,000. State of Wyoming acquired a new stake in shares of Haverty Furniture Companies in the second quarter valued at approximately $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 purchasing an additional 3,123 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Haverty Furniture Companies by 4,637.0% in the first quarter. GAMMA Investing LLC now owns 4,358 shares of the company's stock valued at $860,000 after purchasing an additional 4,266 shares during the period. 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 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.