Zacks Research Downgrades Haverty Furniture Companies (NYSE:HVT) to Strong Sell

Haverty Furniture Companies (NYSE:HVT) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

HVT has been the subject of several other reports. Wall Street Zen lowered Haverty Furniture Companies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings cut Haverty Furniture Companies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Haverty Furniture Companies has an average rating of “Reduce”.

Haverty Furniture Companies Stock Up 3.2%

HVT opened at $23.73 on Tuesday. The firm has a market cap of $381.88 million, a PE ratio of 19.78, a P/E/G ratio of 1.19 and a beta of 1.20. The business has a fifty day simple moving average of $21.84 and a 200-day simple moving average of $23.55. Haverty Furniture Companies has a fifty-two week low of $19.32 and a fifty-two week high of $27.67.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The business had revenue of $189.05 million during the quarter, compared to analyst estimates of $191.99 million. Haverty Furniture Companies had a return on equity of 6.60% and a net margin of 2.64%. On average, equities research analysts anticipate that Haverty Furniture Companies will post 1.62 EPS for the current fiscal year.

Institutional Trading of Haverty Furniture Companies

Several hedge funds and other institutional investors have recently modified their holdings of HVT. Royal Bank of Canada raised its holdings in shares of Haverty Furniture Companies by 13.8% during the first quarter. Royal Bank of Canada now owns 27,073 shares of the company’s stock worth $534,000 after acquiring an additional 3,293 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Haverty Furniture Companies by 30.5% during the first quarter. AQR Capital Management LLC now owns 162,821 shares of the company’s stock worth $3,211,000 after acquiring an additional 38,074 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Haverty Furniture Companies by 7.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock worth $175,000 after acquiring an additional 651 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Haverty Furniture Companies by 7.4% during the first quarter. Empowered Funds LLC now owns 92,185 shares of the company’s stock worth $1,818,000 after acquiring an additional 6,387 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Haverty Furniture Companies by 68.7% during the first quarter. Jane Street Group LLC now owns 172,099 shares of the company’s stock worth $3,394,000 after acquiring an additional 70,060 shares in the last quarter. 80.57% of the stock is currently owned by hedge funds and other institutional investors.

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.