Haverty Furniture Companies (NYSE:HVT) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Haverty Furniture Companies, Inc. (NYSE:HVT)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.69 and traded as high as $24.34. Haverty Furniture Companies shares last traded at $24.0150, with a volume of 83,910 shares.

Analyst Ratings Changes

HVT has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Haverty Furniture Companies in a research note on Monday. Wall Street Zen raised shares of Haverty Furniture Companies from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 9th. Finally, Zacks Research raised shares of Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, Haverty Furniture Companies has an average rating of “Hold”.

Haverty Furniture Companies Stock Performance

The company has a market capitalization of $390.72 million, a P/E ratio of 21.07, a PEG ratio of 1.74 and a beta of 1.27. The company’s fifty day simple moving average is $21.91 and its 200-day simple moving average is $21.69.

Haverty Furniture Companies (NYSE:HVT) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Haverty Furniture Companies had a return on equity of 6.34% and a net margin of 2.62%.The firm had revenue of $194.48 million during the quarter, compared to analysts’ expectations of $183.12 million. On average, sell-side analysts predict that Haverty Furniture Companies, Inc. will post 0.88 EPS for the current year.

Haverty Furniture Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 25th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, November 25th. This is a boost from Haverty Furniture Companies’s previous quarterly dividend of $0.32. Haverty Furniture Companies’s payout ratio is presently 115.79%.

Insider Buying and Selling

In other news, Director Rawson Haverty, Jr. sold 4,523 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $22.42, for a total value of $101,405.66. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 29,523 shares of company stock worth $677,706. 8.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in shares of Haverty Furniture Companies by 1,929.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,522 shares of the company’s stock worth $30,000 after buying an additional 1,447 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Haverty Furniture Companies in the second quarter worth approximately $31,000. State of Wyoming acquired a new position in Haverty Furniture Companies during the 2nd quarter worth approximately $58,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Haverty Furniture Companies by 7.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock valued at $175,000 after purchasing an additional 651 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Haverty Furniture Companies by 146.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,201 shares of the company’s stock valued at $187,000 after purchasing an additional 5,465 shares during the last quarter. Hedge funds and other institutional investors 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.