According to Zacks, “Haverty Furniture Companies, Inc. (Havertys) is a full-service home furnishings retailer 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. “
Zacks Investment Research upgraded shares of Haverty Furniture Companies (NYSE:HVT) from a hold rating to a buy rating in a report published on Wednesday. They currently have $27.00 target price on the stock.
Several other research analysts have also weighed in on HVT. ValuEngine raised Haverty Furniture Companies from a sell rating to a hold rating in a research report on Tuesday, November 20th. TheStreet lowered Haverty Furniture Companies from a b rating to a c+ rating in a research report on Thursday, December 20th.
NYSE:HVT opened at $23.77 on Wednesday. The firm has a market cap of $487.30 million, a P/E ratio of 16.74 and a beta of 0.83. Haverty Furniture Companies has a 1-year low of $17.70 and a 1-year high of $24.88. The company has a current ratio of 2.29, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17.
Haverty Furniture Companies (NYSE:HVT) last posted its quarterly earnings results on Tuesday, February 19th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. The firm had revenue of $208.97 million for the quarter, compared to analyst estimates of $199.91 million. Haverty Furniture Companies had a return on equity of 10.51% and a net margin of 3.71%. Haverty Furniture Companies’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. Equities research analysts predict that Haverty Furniture Companies will post 1.34 EPS for the current year.
Haverty Furniture Companies declared that its Board of Directors has approved a share repurchase plan on Friday, November 16th that permits the company to repurchase $15.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, March 12th. This represents a $0.72 dividend on an annualized basis and a yield of 3.03%. Haverty Furniture Companies’s dividend payout ratio (DPR) is currently 50.70%.
In other Haverty Furniture Companies news, SVP Rawson Haverty, Jr. sold 4,257 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $23.22, for a total value of $98,847.54. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alfredo Trujillo sold 5,136 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $24.28, for a total value of $124,702.08. Following the completion of the transaction, the director now owns 15,665 shares in the company, valued at approximately $380,346.20. The disclosure for this sale can be found here. Insiders sold 34,438 shares of company stock worth $822,955 in the last 90 days. Corporate insiders own 3.05% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of HVT. Metropolitan Life Insurance Co. NY grew its stake in Haverty Furniture Companies by 360.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,836 shares of the company’s stock valued at $110,000 after purchasing an additional 4,568 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Haverty Furniture Companies by 1,090.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,950 shares of the company’s stock valued at $112,000 after purchasing an additional 5,450 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new position in Haverty Furniture Companies in the fourth quarter valued at about $136,000. Engineers Gate Manager LP purchased a new position in Haverty Furniture Companies in the third quarter valued at about $236,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Haverty Furniture Companies in the third quarter valued at about $290,000. Hedge funds and other institutional investors own 84.16% 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, as well as mattress product lines under the Sealy, Tempur-Pedic, Serta, Stearns & Foster, and Beautyrest Black names.
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