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 released on Monday morning.
Separately, Zacks Investment Research lowered shares of Haverty Furniture Cos. from a buy rating to a hold rating in a report on Wednesday, October 5th.
Shares of Haverty Furniture Cos. (NYSE:HVT) opened at 17.55 on Monday. The stock has a 50 day moving average of $19.63 and a 200-day moving average of $19.09. The company has a market capitalization of $370.38 million, a price-to-earnings ratio of 14.70 and a beta of 0.81. 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 issued its quarterly earnings data on Monday, August 1st. The company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.05. Haverty Furniture Cos. had a net margin of 3.30% and a return on equity of 9.05%. The firm had revenue of $194.80 million for the quarter, compared to analysts’ expectations of $194.80 million. During the same quarter in the prior year, the business earned $0.21 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that Haverty Furniture Cos. will post $1.28 earnings per share for the current year.
In related news, Chairman Clarence H. Smith sold 10,510 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $20.52, for a total value of $215,665.20. Following the completion of the sale, the chairman now directly owns 56,088 shares of the company’s stock, valued at approximately $1,150,925.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.51% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in HVT. BNP Paribas Arbitrage SA raised its stake in Haverty Furniture Cos. by 107.2% in the second quarter. BNP Paribas Arbitrage SA now owns 6,187 shares of the company’s stock valued at $112,000 after buying an additional 3,201 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Haverty Furniture Cos. during the second quarter worth about $164,000. BlackRock Inc. raised its stake in shares of Haverty Furniture Cos. by 696.2% in the second quarter. BlackRock Inc. now owns 9,961 shares of the company’s stock worth $180,000 after buying an additional 8,710 shares during the period. Arizona State Retirement System raised its stake in shares of Haverty Furniture Cos. by 1.9% in the second quarter. Arizona State Retirement System now owns 10,475 shares of the company’s stock worth $189,000 after buying an additional 200 shares during the period. Finally, Springbok Capital Management LLC raised its stake in shares of Haverty Furniture Cos. by 15.6% in the first quarter. Springbok Capital Management LLC now owns 12,600 shares of the company’s stock worth $267,000 after buying an additional 1,700 shares during the period. 70.32% of the stock is owned by institutional investors.
Haverty Furniture Cos. Company Profile