Haverty Furniture Companies (NYSE:HVT) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Haverty Furniture shares rose above their 200-day moving average, reaching $28.81 versus the $24.32 average, with the latest trade near $28.41.
• Analyst sentiment remains cautious: Weiss Ratings and Zacks upgraded the stock to “hold,” while Wall Street Zen moved it to “buy”; MarketBeat’s overall rating is “Hold.”
• The company exceeded quarterly earnings and revenue estimates, reporting $0.25 EPS and $194.94 million in revenue, while paying a $0.33 quarterly dividend yielding about 4.6%. Chairman Clarence Smith also sold 20,991 shares.

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 $24.32 and traded as high as $28.81. Haverty Furniture Companies shares last traded at $28.4080, with a volume of 217,466 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HVT. Weiss Ratings raised Haverty Furniture Companies from a "hold (c-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 18th. Zacks Research raised Haverty Furniture Companies from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Finally, Wall Street Zen raised Haverty Furniture Companies from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Haverty Furniture Companies has an average rating of "Hold".

Haverty Furniture Companies Price Performance

The stock has a market capitalization of $442.88 million, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. The firm has a 50 day moving average of $27.22 and a 200-day moving average of $24.32.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. The company had revenue of $194.94 million during the quarter, compared to the consensus estimate of $189.19 million. Haverty Furniture Companies had a return on equity of 7.15% and a net margin of 2.93%. As a group, equities analysts expect that Haverty Furniture Companies, Inc. will post 1.62 earnings per share for the current year.

Haverty Furniture Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Tuesday, August 25th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, August 25th. Haverty Furniture Companies's dividend payout ratio (DPR) is 97.06%.

Insiders Place Their Bets

In other Haverty Furniture Companies news, Chairman Clarence Smith sold 20,991 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $28.16, for a total value of $591,106.56. Following the sale, the chairman owned 71,705 shares of the company's stock, valued at $2,019,212.80. The trade was a 22.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Haverty Furniture Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in HVT. Engineers Gate Manager LP increased its stake in Haverty Furniture Companies by 121.1% in the second quarter. Engineers Gate Manager LP now owns 22,858 shares of the company's stock valued at $584,000 after acquiring an additional 12,518 shares during the period. Odyssean LLC bought a new position in Haverty Furniture Companies during the second quarter worth about $422,000. Empowered Funds LLC bought a new position in Haverty Furniture Companies during the second quarter worth about $3,051,000. Public Employees Retirement System of Ohio acquired a new stake in Haverty Furniture Companies during the second quarter valued at approximately $302,000. Finally, Bank of America Corp DE acquired a new stake in Haverty Furniture Companies during the second quarter valued at approximately $574,000. 80.57% of the stock is owned by institutional investors.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc is a specialty retailer of residential furniture and related home furnishings. The company sells products for living rooms, bedrooms, dining rooms, home offices and other areas of the home, including upholstered furniture, case goods, mattresses, rugs, lighting and home accessories.

Founded in Atlanta in 1885 by James J. Haverty, the company operates under the Havertys name and serves customers through a network of retail stores and its e-commerce platform.

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