Haverty Furniture Companies (NYSE:HVT) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Haverty Furniture shares moved above their 200-day moving average, reaching $27.67 and last trading at $27.25 versus the $24.02 long-term average.
• Analyst sentiment remains cautious, with two analysts rating the stock “Hold” and one recent upgrade to “Buy”; the company nevertheless beat quarterly EPS and revenue estimates.
• Haverty declared a quarterly dividend of $0.33, equating to a $1.32 annualized payout and a 4.8% yield, though its payout ratio is high at 97.06%. Chairman Clarence H. Smith also sold 20,991 shares.

Haverty Furniture Companies, Inc. (NYSE:HVT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.02 and traded as high as $27.67. Haverty Furniture Companies shares last traded at $27.25, with a volume of 236,380 shares traded.

Wall Street Analyst Weigh In

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

Haverty Furniture Companies Trading Down 0.4%

The company's fifty day moving average is $26.41 and its 200 day moving average is $24.02. The company has a market capitalization of $424.83 million, a P/E ratio of 20.04, a P/E/G ratio of 1.41 and a beta of 1.20.

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

Haverty Furniture Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 25th will be given a $0.33 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $1.32 annualized dividend and a dividend yield of 4.8%. Haverty Furniture Companies's payout ratio is 97.06%.

Insider Activity

In related news, Chairman Clarence H. Smith sold 20,991 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $28.16, for a total transaction of $591,106.56. Following the sale, the chairman directly owned 71,705 shares in the company, valued at approximately $2,019,212.80. The trade was a 22.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HVT. Raymond James Financial Inc. purchased a new position in Haverty Furniture Companies during the 2nd quarter valued at about $31,000. Legal & General Group Plc purchased a new stake in shares of Haverty Furniture Companies in the second quarter worth about $32,000. CANADA LIFE ASSURANCE Co boosted its position in shares of Haverty Furniture Companies by 57.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company's stock valued at $40,000 after acquiring an additional 625 shares during the period. Fifth Third Bancorp purchased a new position in Haverty Furniture Companies during the first quarter valued at approximately $49,000. Finally, State of Wyoming purchased a new position in Haverty Furniture Companies during the second quarter valued at approximately $58,000. Institutional investors own 80.57% of the company's stock.

About Haverty Furniture Companies

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source