Haverty Furniture Companies (NYSE:HVT) Stock Breaks Above Two Hundred Day Moving Average – What’s Next?

Haverty Furniture Companies, Inc. (NYSE:HVT)’s stock price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $25.00 and traded as high as $27.77. Haverty Furniture Companies shares last traded at $27.4710, with a volume of 101,418 shares changing hands.

Wall Street Analyst Weigh In

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

Haverty Furniture Companies Stock Down 0.4%

The firm has a 50 day simple moving average of $27.79 and a two-hundred day simple moving average of $25.04. The stock has a market capitalization of $438.11 million, a P/E ratio of 20.66, a PEG ratio of 1.44 and a beta of 1.22.

Haverty Furniture Companies (NYSE:HVT) last issued its earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Haverty Furniture Companies had a return on equity of 7.15% and a net margin of 2.93%. The firm had revenue of $194.94 million for the quarter, compared to the consensus estimate of $189.19 million. On average, research analysts predict that Haverty Furniture Companies, Inc. will post 1.59 earnings per share for the current year.

Haverty Furniture Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Tuesday, August 25th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $1.32 annualized dividend and a yield of 4.7%. 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 Haverty Furniture Companies stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $28.16, for a total value of $591,106.56. Following the transaction, the chairman owned 71,705 shares in the company, valued at $2,019,212.80. The trade was a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC bought a new stake in shares of Haverty Furniture Companies during the 2nd quarter valued at approximately $1,042,000. Sei Investments Co. lifted its stake in Haverty Furniture Companies by 65.5% in the 1st quarter. Sei Investments Co. now owns 164,994 shares of the company’s stock valued at $3,495,000 after purchasing an additional 65,292 shares during the last quarter. Pzena Investment Management LLC bought a new position in Haverty Furniture Companies in the 2nd quarter valued at approximately $39,915,000. BlackRock Inc. bought a new position in Haverty Furniture Companies in the 2nd quarter valued at approximately $39,128,000. Finally, Bank of New York Mellon Corp acquired a new stake in Haverty Furniture Companies in the second quarter valued at approximately $4,123,000. Institutional investors own 80.57% of the company’s stock.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc is a specialty retailer of residential furniture and related home furnishings. The company sells furniture for living rooms, bedrooms, dining rooms, home offices and other areas of the home, along with mattresses, rugs, lighting, accent pieces and home accessories. Havertys offers its products through retail stores and its e-commerce platform.

The company also provides services intended to support the furniture-buying process, including interior design assistance, in-home delivery and furniture financing options.