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

Haverty Furniture Companies (NYSE:HVT) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Haverty Furniture Companies Price Performance

Haverty Furniture Companies stock opened at $25.41 on Wednesday. The stock has a fifty day moving average price of $27.13 and a two-hundred day moving average price of $27.92. Haverty Furniture Companies has a 52-week low of $23.09 and a 52-week high of $37.05. The firm has a market capitalization of $412.56 million, a P/E ratio of 9.24, a P/E/G ratio of 1.51 and a beta of 1.45.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09. The firm had revenue of $178.60 million during the quarter, compared to analyst estimates of $182.37 million. Haverty Furniture Companies had a return on equity of 12.58% and a net margin of 4.91%. On average, equities research analysts predict that Haverty Furniture Companies will post 1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Haverty Furniture Companies

Hedge funds have recently added to or reduced their stakes in the company. Wulff Hansen & CO. boosted its holdings in Haverty Furniture Companies by 2,503.4% during the second quarter. Wulff Hansen & CO. now owns 573,122 shares of the company’s stock worth $14,494,000 after buying an additional 551,108 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Haverty Furniture Companies during the second quarter worth about $3,161,000. American Century Companies Inc. raised its position in shares of Haverty Furniture Companies by 19.0% during the second quarter. American Century Companies Inc. now owns 320,672 shares of the company’s stock worth $8,110,000 after purchasing an additional 51,302 shares during the period. Vest Financial LLC acquired a new stake in Haverty Furniture Companies in the 2nd quarter valued at approximately $1,087,000. Finally, Deprince Race & Zollo Inc. raised its position in Haverty Furniture Companies by 28.3% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 145,895 shares of the company’s stock valued at $3,690,000 after buying an additional 32,175 shares during the last quarter. Institutional investors own 80.57% of the company’s stock.

About Haverty Furniture Companies

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.