Raymond James Financial Inc. cut shares of Haverty Furniture Cos. (NYSE:HVT) from a strong-buy rating to a market perform rating in a report published on Monday.

Separately, Zacks Investment Research cut Haverty Furniture Cos. from a buy rating to a hold rating in a report on Wednesday, October 5th.

Haverty Furniture Cos. (NYSE:HVT) traded down 1.79% on Monday, reaching $17.59. The company’s stock had a trading volume of 99,318 shares. The company has a market capitalization of $371.22 million, a PE ratio of 14.73 and a beta of 0.81. The firm has a 50-day moving average of $19.87 and a 200-day moving average of $19.12. Haverty Furniture Cos. has a one year low of $16.57 and a one year high of $24.54.

Haverty Furniture Cos. (NYSE:HVT) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. The business had revenue of $194.80 million for the quarter, compared to analysts’ expectations of $194.80 million. Haverty Furniture Cos. had a return on equity of 9.05% and a net margin of 3.30%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.21 earnings per share. Analysts predict that Haverty Furniture Cos. will post $1.28 EPS for the current year.

In other news, Chairman Clarence H. Smith sold 10,510 shares of Haverty Furniture Cos. stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $20.52, for a total value of $215,665.20. Following the sale, the chairman now directly owns 56,088 shares of the company’s stock, valued at $1,150,925.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.51% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Royce & Associates LP raised its position in Haverty Furniture Cos. by 14.0% in the second quarter. Royce & Associates LP now owns 1,666,000 shares of the company’s stock valued at $30,038,000 after buying an additional 205,200 shares in the last quarter. BlackRock Fund Advisors raised its position in Haverty Furniture Cos. by 3.0% in the second quarter. BlackRock Fund Advisors now owns 1,346,799 shares of the company’s stock valued at $24,283,000 after buying an additional 38,617 shares in the last quarter. NWQ Investment Management Company LLC raised its position in Haverty Furniture Cos. by 17.7% in the first quarter. NWQ Investment Management Company LLC now owns 1,331,247 shares of the company’s stock valued at $28,169,000 after buying an additional 200,553 shares in the last quarter. Renaissance Technologies LLC raised its position in Haverty Furniture Cos. by 8.9% in the first quarter. Renaissance Technologies LLC now owns 1,276,200 shares of the company’s stock valued at $27,004,000 after buying an additional 104,100 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Haverty Furniture Cos. by 10.0% in the second quarter. Vanguard Group Inc. now owns 911,451 shares of the company’s stock valued at $16,433,000 after buying an additional 82,918 shares in the last quarter. 70.32% of the stock is currently owned by hedge funds and other institutional investors.

Haverty Furniture Cos. Company Profile

Haverty Furniture Companies, Inc is a specialty retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website havertys.com. The Company has over 120 stores in approximately 20 states in the southern and Midwest regions with over 4.4 million square feet retail store space.

5 Day Chart for NYSE:HVT

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