Today, Haverty Furniture Cos. (HVT) Rating Increased to Buy at TheStreet

Today, Haverty Furniture Cos. (HVT) Rating Increased to Buy at TheStreet

Haverty Furniture Cos. (NYSE:HVT) was upgraded by research analysts at TheStreet from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Other analysts have also issued reports about the stock. Raymond James Financial Inc. raised shares of Haverty Furniture Cos. from an “outperform” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, August 2nd. Zacks Investment Research raised shares of Haverty Furniture Cos. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd.

Haverty Furniture Cos. (NYSE:HVT) opened at 21.60 on Friday. The company has a 50 day moving average of $19.58 and a 200-day moving average of $19.23. The stock has a market cap of $455.85 million, a P/E ratio of 17.93 and a beta of 0.74. Haverty Furniture Cos. has a 12-month low of $16.57 and a 12-month high of $24.31.

Haverty Furniture Cos. (NYSE:HVT) last released its quarterly earnings data on Monday, October 31st. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. Haverty Furniture Cos. had a net margin of 3.26% and a return on equity of 8.95%. The company earned $211.70 million during the quarter, compared to analyst estimates of $211.70 million. During the same period in the prior year, the firm earned $0.34 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts forecast that Haverty Furniture Cos. will post $1.23 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Wednesday, November 23rd will be issued a $1.00 dividend. The ex-dividend date is Monday, November 21st. This is an increase from Haverty Furniture Cos.’s previous quarterly dividend of $0.12. This represents a $4.00 dividend on an annualized basis and a yield of 18.52%. Haverty Furniture Cos.’s payout ratio is currently 40.00%.

A number of institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Haverty Furniture Cos. by 917.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,974 shares of the company’s stock worth $100,000 after buying an additional 4,485 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Haverty Furniture Cos. by 107.2% in the second quarter. BNP Paribas Arbitrage SA now owns 6,187 shares of the company’s stock worth $112,000 after buying an additional 3,201 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Haverty Furniture Cos. during the second quarter worth approximately $164,000. BlackRock Inc. increased its position 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 in the last quarter. Finally, Arizona State Retirement System increased its position 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 in the last quarter. Institutional investors and hedge funds own 69.98% of the company’s stock.

About Haverty Furniture Cos.

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