Haverty Furniture Companies (NYSE:HVT) Downgraded by StockNews.com

StockNews.com downgraded shares of Haverty Furniture Companies (NYSE:HVT) from a buy rating to a hold rating in a research note published on Wednesday morning.

Separately, Benchmark reaffirmed a buy rating and set a $45.00 price target on shares of Haverty Furniture Companies in a research report on Thursday, May 2nd.

Haverty Furniture Companies Price Performance

Shares of HVT opened at $25.05 on Wednesday. The firm has a market capitalization of $406.81 million, a PE ratio of 9.11, a PEG ratio of 1.53 and a beta of 1.42. The company’s 50-day moving average is $28.69 and its 200-day moving average is $32.08. Haverty Furniture Companies has a fifty-two week low of $25.01 and a fifty-two week high of $37.05.

Haverty Furniture Companies (NYSE:HVT) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.19). Haverty Furniture Companies had a net margin of 5.64% and a return on equity of 14.98%. The company had revenue of $184.00 million during the quarter, compared to the consensus estimate of $192.70 million. Analysts predict that Haverty Furniture Companies will post 1.5 earnings per share for the current fiscal year.

Haverty Furniture Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 24th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.11%. This is a positive change from Haverty Furniture Companies’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, May 23rd. Haverty Furniture Companies’s dividend payout ratio (DPR) is currently 46.55%.

Hedge Funds Weigh In On Haverty Furniture Companies

A number of hedge funds have recently bought and sold shares of HVT. Vanguard Group Inc. grew its stake in Haverty Furniture Companies by 1.6% during the first quarter. Vanguard Group Inc. now owns 1,105,487 shares of the company’s stock worth $37,719,000 after buying an additional 17,354 shares in the last quarter. Invesco Ltd. grew its stake in Haverty Furniture Companies by 8.8% during the third quarter. Invesco Ltd. now owns 322,446 shares of the company’s stock worth $9,280,000 after buying an additional 26,157 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Haverty Furniture Companies by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 308,565 shares of the company’s stock worth $10,954,000 after buying an additional 9,064 shares in the last quarter. American Century Companies Inc. grew its stake in Haverty Furniture Companies by 4.9% during the third quarter. American Century Companies Inc. now owns 203,389 shares of the company’s stock worth $5,854,000 after buying an additional 9,455 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Haverty Furniture Companies by 58.6% during the third quarter. Rhumbline Advisers now owns 114,258 shares of the company’s stock worth $3,288,000 after buying an additional 42,198 shares in the last quarter. 80.57% of the stock is owned by institutional investors.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products and eclectic looks; and mattress product lines under the Tempur-Pedic, Serta, Sealy, and Stearns and Foster names.