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

Haverty Furniture Companies, Inc. (NYSE:HVT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.35 and traded as high as $24.78. Haverty Furniture Companies shares last traded at $24.5290, with a volume of 45,625 shares traded.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Zacks Research cut shares of Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a research note on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Haverty Furniture Companies in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Haverty Furniture Companies from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 9th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Haverty Furniture Companies Stock Performance

The firm has a 50 day simple moving average of $23.55 and a 200 day simple moving average of $22.35. The firm has a market cap of $399.01 million, a P/E ratio of 21.52, a P/E/G ratio of 0.96 and a beta of 1.28.

Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $183.12 million. Sell-side analysts predict that Haverty Furniture Companies, Inc. will post 0.88 EPS for the current fiscal year.

Haverty Furniture Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 25th were paid a $0.33 dividend. The ex-dividend date was Tuesday, November 25th. This represents a $1.32 annualized dividend and a yield of 5.4%. This is a boost from Haverty Furniture Companies’s previous quarterly dividend of $0.32. Haverty Furniture Companies’s dividend payout ratio is currently 115.79%.

Insider Buying and Selling

In other news, Director Rawson Haverty, Jr. sold 7,500 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $24.86, for a total transaction of $186,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 14,354 shares of company stock valued at $345,898. 8.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Haverty Furniture Companies

A number of institutional investors and hedge funds have recently made changes to their positions in HVT. Raymond James Financial Inc. purchased a new position in Haverty Furniture Companies during the second quarter worth about $31,000. State of Wyoming purchased a new position in shares of Haverty Furniture Companies during the second quarter worth about $58,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Haverty Furniture Companies by 7.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock worth $175,000 after purchasing an additional 651 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Haverty Furniture Companies by 146.3% in the second quarter. Nisa Investment Advisors LLC now owns 9,201 shares of the company’s stock worth $187,000 after purchasing an additional 5,465 shares during the last quarter. Finally, Truist Financial Corp purchased a new stake in Haverty Furniture Companies in the second quarter valued at approximately $204,000. Hedge funds and other 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 home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.