Haverty Furniture Companies (NYSE:HVT) Cut to “Strong Sell” at Zacks Research

Haverty Furniture Companies (NYSE:HVT) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts also recently issued reports on HVT. Wall Street Zen downgraded shares of Haverty Furniture Companies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings lowered shares of Haverty Furniture Companies from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Haverty Furniture Companies currently has an average rating of “Reduce”.

Haverty Furniture Companies Trading Up 3.2%

Haverty Furniture Companies stock opened at $23.73 on Tuesday. Haverty Furniture Companies has a 1-year low of $19.32 and a 1-year high of $27.67. The firm has a market cap of $381.88 million, a P/E ratio of 19.78, a P/E/G ratio of 1.19 and a beta of 1.20. The firm has a 50-day moving average of $21.84 and a 200-day moving average of $23.55.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $189.05 million for the quarter, compared to analyst estimates of $191.99 million. Haverty Furniture Companies had a return on equity of 6.60% and a net margin of 2.64%. Research analysts forecast that Haverty Furniture Companies will post 1.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Haverty Furniture Companies

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in shares of Haverty Furniture Companies by 4.8% during the first quarter. Bank of America Corp DE now owns 26,230 shares of the company’s stock valued at $556,000 after acquiring an additional 1,195 shares in the last quarter. Empowered Funds LLC increased its holdings in Haverty Furniture Companies by 10.7% during the 1st quarter. Empowered Funds LLC now owns 117,502 shares of the company’s stock worth $2,489,000 after purchasing an additional 11,318 shares during the period. Quantinno Capital Management LP raised its holdings in shares of Haverty Furniture Companies by 32.4% in the first quarter. Quantinno Capital Management LP now owns 28,573 shares of the company’s stock valued at $605,000 after acquiring an additional 6,989 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Haverty Furniture Companies by 13.5% in the 1st quarter. Lazard Asset Management LLC now owns 81,536 shares of the company’s stock valued at $1,727,000 after purchasing an additional 9,697 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Haverty Furniture Companies by 2.8% during the first quarter. Renaissance Technologies LLC now owns 719,830 shares of the company’s stock worth $15,246,000 after buying an additional 19,624 shares during the period. 80.57% of the stock is currently owned by institutional investors.

Haverty Furniture Companies Company Profile

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.