Haverty Furniture Companies (HVT) Lifted to “Hold” at Zacks Investment Research

Haverty Furniture Companies (NYSE:HVT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Haverty Furniture Companies, Inc. (Havertys) is a full-service home furnishings retailer with over 100 showrooms in 16 states in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle to upper-middle price ranges. Havertys is a true retailing institution. “

Haverty Furniture Companies (NYSE HVT) remained flat at $$24.00 during trading on Wednesday. The stock had a trading volume of 119,550 shares, compared to its average volume of 77,588. Haverty Furniture Companies has a 52-week low of $21.05 and a 52-week high of $27.23. The stock has a market capitalization of $525.17, a price-to-earnings ratio of 18.20, a PEG ratio of 4.64 and a beta of 1.13. The company has a quick ratio of 1.16, a current ratio of 2.17 and a debt-to-equity ratio of 0.18.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings data on Tuesday, October 31st. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. Haverty Furniture Companies had a net margin of 3.53% and a return on equity of 10.10%. The firm had revenue of $207.60 million during the quarter, compared to analysts’ expectations of $215.32 million. During the same period last year, the business earned $0.34 earnings per share. Haverty Furniture Companies’s revenue was down 1.9% compared to the same quarter last year. sell-side analysts anticipate that Haverty Furniture Companies will post 1.19 EPS for the current year.

In related news, Director Fred L. Schuermann sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $23.15, for a total transaction of $45,142.50. Following the completion of the sale, the director now directly owns 3 shares in the company, valued at $69.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.31% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in HVT. Public Employees Retirement System of Ohio increased its position in shares of Haverty Furniture Companies by 3,058.2% during the third quarter. Public Employees Retirement System of Ohio now owns 22,676 shares of the company’s stock valued at $593,000 after acquiring an additional 21,958 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Haverty Furniture Companies by 5.7% during the third quarter. California Public Employees Retirement System now owns 97,058 shares of the company’s stock valued at $2,538,000 after acquiring an additional 5,258 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Haverty Furniture Companies by 27.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 138,362 shares of the company’s stock valued at $3,619,000 after acquiring an additional 29,877 shares during the last quarter. Citadel Advisors LLC increased its position in shares of Haverty Furniture Companies by 154.0% during the third quarter. Citadel Advisors LLC now owns 29,147 shares of the company’s stock valued at $762,000 after acquiring an additional 17,672 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Haverty Furniture Companies during the third quarter valued at about $290,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc is a retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website, havertys.com. As of December 31, 2016, the Company had 124 stores in 16 states in the Southern and Midwest regions. As of December 31, 2016, the Company’s retail store space totaled approximately 4.5 million square feet for 124 stores.

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