Haverty Furniture Companies (NYSE:HVT) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Haverty Furniture Companies from “hold” to “buy,” although the broader analyst consensus remains “Hold,” with Zacks Research also recently raising its rating to “hold.”
• Havertys reported quarterly EPS of $0.25, exceeding the $0.23 consensus estimate, while revenue of $194.94 million also topped expectations of $189.19 million.
• The stock opened at $28.75, near its 52-week high of $29.83, with a market capitalization of approximately $448 million; institutional investors and hedge funds own 80.57% of outstanding shares.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Several other brokerages also recently weighed in on HVT. Zacks Research upgraded shares of Haverty Furniture Companies from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Haverty Furniture Companies in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".

Haverty Furniture Companies Price Performance

NYSE HVT opened at $28.75 on Friday. The company has a market cap of $448.13 million, a P/E ratio of 21.14, a P/E/G ratio of 1.49 and a beta of 1.20. The stock has a 50-day moving average of $25.55 and a two-hundred day moving average of $23.93. Haverty Furniture Companies has a 1-year low of $19.89 and a 1-year high of $29.83.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. Haverty Furniture Companies had a net margin of 2.93% and a return on equity of 7.15%. The company had revenue of $194.94 million for the quarter, compared to analyst estimates of $189.19 million. On average, analysts anticipate that Haverty Furniture Companies will post 1.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Haverty Furniture Companies

Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in Haverty Furniture Companies in the second quarter valued at $32,000. Raymond James Financial Inc. acquired a new position in shares of Haverty Furniture Companies during the 2nd quarter worth $31,000. CANADA LIFE ASSURANCE Co grew its stake in shares of Haverty Furniture Companies by 57.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company's stock worth $40,000 after purchasing an additional 625 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Haverty Furniture Companies in the 4th quarter valued at about $45,000. Finally, Fifth Third Bancorp purchased a new position in shares of Haverty Furniture Companies in the 1st quarter valued at about $49,000. 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.

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