Wall Street Zen Upgrades Haverty Furniture Companies (NYSE:HVT) to "Buy"

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

Separately, Sidoti raised Haverty Furniture Companies to a "hold" rating in a research report on Tuesday, April 29th.

Haverty Furniture Companies Price Performance

NYSE:HVT traded down $0.05 during trading hours on Friday, hitting $20.45. 210,413 shares of the company were exchanged, compared to its average volume of 185,805. Haverty Furniture Companies has a 52-week low of $17.01 and a 52-week high of $29.85. The stock has a market capitalization of $330.32 million, a price-to-earnings ratio of 16.23, a PEG ratio of 1.31 and a beta of 1.38. The company's 50 day moving average price is $19.86 and its 200-day moving average price is $20.84.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.14 by $0.09. The business had revenue of $181.60 million during the quarter, compared to the consensus estimate of $178.36 million. Haverty Furniture Companies had a net margin of 2.96% and a return on equity of 6.94%. On average, equities analysts predict that Haverty Furniture Companies will post 0.88 earnings per share for the current year.

Insider Buying and Selling

In other Haverty Furniture Companies news, Director Rawson Haverty, Jr. sold 1,500 shares of Haverty Furniture Companies stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $20.67, for a total transaction of $31,005.00. Following the completion of the sale, the director now directly owns 38,023 shares in the company, valued at approximately $785,935.41. The trade was a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.63% of the stock is owned by corporate insiders.

Institutional Trading of Haverty Furniture Companies

Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its position in Haverty Furniture Companies by 1,929.3% during 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. KLP Kapitalforvaltning AS purchased a new position in shares of Haverty Furniture Companies during the 4th quarter valued at about $56,000. Nisa Investment Advisors LLC lifted its holdings in shares of Haverty Furniture Companies by 509.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,736 shares of the company's stock valued at $74,000 after buying an additional 3,123 shares during the period. CWM LLC boosted its stake in shares of Haverty Furniture Companies by 163.0% in the first quarter. CWM LLC now owns 4,645 shares of the company's stock worth $92,000 after buying an additional 2,879 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Haverty Furniture Companies by 30.9% in the fourth quarter. US Bancorp DE now owns 5,184 shares of the company's stock worth $115,000 after buying an additional 1,224 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.