Shares of Haverty Furniture Cos. (NYSE:HVT) have earned an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Haverty Furniture Cos.’s rating score has improved by 20% from 90 days ago as a result of a number of analysts’ ratings changes.
Analysts have set a 12-month consensus price objective of $23.00 for the company and are forecasting that the company will post $0.36 EPS for the current quarter, according to Zacks. Zacks has also assigned Haverty Furniture Cos. an industry rank of 238 out of 265 based on the ratings given to related companies.
A number of brokerages have issued reports on HVT. Zacks Investment Research raised Haverty Furniture Cos. from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, August 16th. Raymond James Financial Inc. raised Haverty Furniture Cos. from an “outperform” rating to a “strong-buy” rating and set a $23.00 target price for the company in a research note on Tuesday, August 2nd.
Shares of Haverty Furniture Cos. (NYSE:HVT) opened at 19.76 on Tuesday. The stock has a market capitalization of $417.02 million, a price-to-earnings ratio of 16.55 and a beta of 0.81. The company has a 50-day moving average of $19.95 and a 200-day moving average of $19.16. Haverty Furniture Cos. has a 1-year low of $16.65 and a 1-year high of $24.54.
Haverty Furniture Cos. (NYSE:HVT) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. Haverty Furniture Cos. had a return on equity of 9.05% and a net margin of 3.30%. The firm earned $194.80 million during the quarter, compared to the consensus estimate of $194.80 million. During the same period in the prior year, the company earned $0.21 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts expect that Haverty Furniture Cos. will post $1.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 24th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This is an increase from Haverty Furniture Cos.’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.43%. Haverty Furniture Cos.’s dividend payout ratio (DPR) is 40.00%.
In other Haverty Furniture Cos. news, Chairman Clarence H. Smith sold 10,510 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.51% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Arizona State Retirement System increased 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 last quarter. Prudential Financial Inc. increased its stake in shares of Haverty Furniture Cos. by 1.0% in the second quarter. Prudential Financial Inc. now owns 48,237 shares of the company’s stock worth $870,000 after buying an additional 500 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Haverty Furniture Cos. by 0.3% in the second quarter. Thrivent Financial for Lutherans now owns 182,087 shares of the company’s stock worth $3,283,000 after buying an additional 560 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Haverty Furniture Cos. by 4.1% in the second quarter. BlackRock Group LTD now owns 36,628 shares of the company’s stock worth $660,000 after buying an additional 1,459 shares during the last quarter. Finally, Springbok Capital Management LLC increased 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 last quarter. 70.32% of the stock is 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.