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

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

Haverty Furniture Companies Stock Performance

NYSE HVT traded down $0.13 on Friday, reaching $23.74. 145,668 shares of the company’s stock traded hands, compared to its average volume of 182,705. The firm has a market cap of $385.44 million, a price-to-earnings ratio of 8.63, a P/E/G ratio of 1.46 and a beta of 1.45. The stock has a 50 day moving average price of $26.37 and a 200-day moving average price of $27.35. Haverty Furniture Companies has a fifty-two week low of $23.09 and a fifty-two week high of $37.05.

Haverty Furniture Companies (NYSE:HVT) last posted its earnings results on Wednesday, July 31st. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The company had revenue of $178.60 million during the quarter, compared to the consensus estimate of $182.37 million. Haverty Furniture Companies had a net margin of 4.91% and a return on equity of 12.58%. As a group, equities research analysts anticipate that Haverty Furniture Companies will post 1.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Haverty Furniture Companies by 22.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,545 shares of the company’s stock worth $140,000 after acquiring an additional 1,034 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Haverty Furniture Companies by 79.9% during the second quarter. Harbor Capital Advisors Inc. now owns 7,772 shares of the company’s stock worth $197,000 after purchasing an additional 3,451 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Haverty Furniture Companies during the first quarter worth about $206,000. EMC Capital Management increased its stake in shares of Haverty Furniture Companies by 10.3% during the first quarter. EMC Capital Management now owns 8,064 shares of the company’s stock worth $275,000 after purchasing an additional 750 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in shares of Haverty Furniture Companies by 6.1% during the second quarter. Texas Permanent School Fund Corp now owns 12,388 shares of the company’s stock worth $313,000 after purchasing an additional 714 shares in the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.

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.