Haverty Furniture Companies (NYSE:HVT) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Haverty Furniture shares crossed above their 200-day moving average, trading as high as $27.96 versus the $24.15 average, with the stock last at $27.804.
• Analysts have modestly improved their views, with upgrades from “hold” to “buy” and “strong sell” to “hold,” though the overall analyst consensus remains “Hold.”
• The company exceeded quarterly expectations, reporting $0.25 in EPS and $194.94 million in revenue, while paying a $0.33 quarterly dividend for a 4.7% yield. Chairman Clarence Smith also sold 20,991 shares, reducing his position by 22.64%.

Haverty Furniture Companies, Inc. (NYSE:HVT - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $24.15 and traded as high as $27.96. Haverty Furniture Companies shares last traded at $27.8040, with a volume of 107,611 shares.

Analyst Ratings Changes

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

Haverty Furniture Companies Trading Up 0.7%

The stock's 50 day moving average is $26.92 and its 200 day moving average is $24.15. The stock has a market capitalization of $433.46 million, a price-to-earnings ratio of 20.44, a PEG ratio of 1.42 and a beta of 1.22.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last announced 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 during the quarter, compared to analysts' expectations of $189.19 million. On average, sell-side analysts anticipate that Haverty Furniture Companies, Inc. will post 1.62 EPS for the current year.

Haverty Furniture Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 25th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Tuesday, August 25th. Haverty Furniture Companies's dividend payout ratio (DPR) is 97.06%.

Insider Activity

In related news, Chairman Clarence Smith sold 20,991 shares of the company's stock in a transaction that occurred on Monday, August 17th. The stock was 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 approximately $2,019,212.80. This represents a 22.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Haverty Furniture Companies

Large investors have recently bought and sold shares of the stock. Pzena Investment Management LLC purchased a new position in Haverty Furniture Companies in the 2nd quarter valued at about $39,915,000. BlackRock Inc. acquired a new stake in shares of Haverty Furniture Companies during the 2nd quarter worth about $39,128,000. Hodges Capital Management Inc. purchased a new stake in shares of Haverty Furniture Companies during the fourth quarter worth about $4,948,000. Bank of New York Mellon Corp purchased a new stake in shares of Haverty Furniture Companies during the second quarter worth about $4,123,000. Finally, Empowered Funds LLC acquired a new position in shares of Haverty Furniture Companies in the second quarter valued at approximately $3,051,000. Institutional investors and hedge funds own 80.57% of the company's stock.

About Haverty Furniture Companies

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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