Haverty Furniture Cos. (NYSE:HVT) has been assigned a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One investment 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 three months ago as a result of various analysts’ upgrades and downgrades.
Brokerages have set a one year consensus target price of $23.00 for the company and are anticipating that the company will post $0.38 EPS for the current quarter, according to Zacks. Zacks has also given Haverty Furniture Cos. an industry rank of 223 out of 265 based on the ratings given to its competitors.
HVT has been the subject of a number of analyst reports. 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 report on Tuesday, August 2nd. Zacks Investment Research raised shares of Haverty Furniture Cos. from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, August 16th.
Haverty Furniture Cos. (NYSE:HVT) opened at 19.79 on Tuesday. The company’s 50 day moving average price is $19.98 and its 200-day moving average price is $19.16. Haverty Furniture Cos. has a 12-month low of $16.65 and a 12-month high of $24.54. The stock has a market cap of $417.65 million, a price-to-earnings ratio of 16.57 and a beta of 0.81.
Haverty Furniture Cos. (NYSE:HVT) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The company earned $194.80 million during the quarter, compared to analysts’ expectations of $194.80 million. Haverty Furniture Cos. had a net margin of 3.30% and a return on equity of 9.05%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 EPS. On average, analysts forecast that Haverty Furniture Cos. will post $1.28 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 24th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Monday, August 22nd. This is a positive change from Haverty Furniture Cos.’s previous quarterly dividend of $0.10. Haverty Furniture Cos.’s dividend payout ratio is 40.00%.
In other news, Chairman Clarence H. Smith sold 10,510 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $20.52, for a total value of $215,665.20. Following the sale, the chairman now owns 56,088 shares in the company, valued at approximately $1,150,925.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.51% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Paradigm Capital Management Inc. NY raised its stake in shares of Haverty Furniture Cos. by 241.6% in the second quarter. Paradigm Capital Management Inc. NY now owns 404,422 shares of the company’s stock worth $7,291,000 after buying an additional 286,022 shares during the period. Royce & Associates LP raised its stake 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 during the period. NWQ Investment Management Company LLC raised its stake 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 during the period. Renaissance Technologies LLC raised its stake 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 during the period. Finally, Vanguard Group Inc. raised its stake 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 during the period. Institutional investors and hedge funds own 70.32% of the company’s stock.
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.
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