Haverty Furniture Companies (NYSE:HVT) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

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 $23.70 and traded as high as $26.08. Haverty Furniture Companies shares last traded at $25.6170, with a volume of 122,802 shares trading hands.

Analysts Set New Price Targets

HVT has been the topic of several recent research reports. Weiss Ratings lowered Haverty Furniture Companies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Haverty Furniture Companies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Zacks Research raised shares of Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, Haverty Furniture Companies currently has an average rating of “Hold”.

Haverty Furniture Companies Trading Down 2.4%

The stock has a 50-day simple moving average of $23.62 and a 200-day simple moving average of $23.71. The company has a market capitalization of $411.73 million, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 1.32 and a beta of 1.18.

Haverty Furniture Companies (NYSE:HVT) last released its earnings results on Tuesday, May 5th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $189.05 million during the quarter, compared to analysts’ expectations of $191.99 million. Haverty Furniture Companies had a return on equity of 6.60% and a net margin of 2.64%. On average, research analysts forecast that Haverty Furniture Companies, Inc. will post 1.62 EPS for the current year.

Haverty Furniture Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 1st were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Monday, June 1st. Haverty Furniture Companies’s dividend payout ratio is 110.00%.

Hedge Funds Weigh In On Haverty Furniture Companies

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Haverty Furniture Companies during the second quarter valued at approximately $31,000. CANADA LIFE ASSURANCE Co grew its position in shares of Haverty Furniture Companies by 57.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company’s stock worth $40,000 after acquiring an additional 625 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Haverty Furniture Companies in the 4th quarter worth approximately $45,000. Fifth Third Bancorp bought a new stake in shares of Haverty Furniture Companies in the 1st quarter valued at approximately $49,000. Finally, State of Wyoming bought a new stake in shares of Haverty Furniture Companies in the 2nd quarter valued at approximately $58,000. 80.57% of the stock is currently owned by institutional investors and hedge funds.

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.