Haverty Furniture Companies (NYSE:HVT) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Haverty Furniture Companies, Inc. (NYSE:HVT)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $22.81 and traded as high as $26.36. Haverty Furniture Companies shares last traded at $26.24, with a volume of 51,827 shares traded.

Analyst Upgrades and Downgrades

HVT has been the topic of a number of recent analyst reports. Zacks Research lowered shares of Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a research note on Monday, December 29th. Wall Street Zen cut shares of Haverty Furniture Companies from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Haverty Furniture Companies in a research note on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce”.

Haverty Furniture Companies Trading Down 0.2%

The firm has a 50 day moving average price of $24.56 and a 200 day moving average price of $22.81. The stock has a market capitalization of $426.92 million, a PE ratio of 23.02, a price-to-earnings-growth ratio of 1.05 and a beta of 1.28.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. The business had revenue of $194.48 million during the quarter, compared to analyst estimates of $183.12 million. Haverty Furniture Companies had a return on equity of 6.34% and a net margin of 2.62%. On average, equities research analysts expect that Haverty Furniture Companies, Inc. will post 0.88 EPS for the current 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 dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Tuesday, November 25th. This is a positive change from Haverty Furniture Companies’s previous quarterly dividend of $0.32. Haverty Furniture Companies’s dividend payout ratio (DPR) is 115.79%.

Insiders Place Their Bets

In other Haverty Furniture Companies news, Director Rawson Haverty, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $24.86, for a total value of $186,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 14,354 shares of company stock worth $345,898 over the last quarter. 8.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HVT. Royal Bank of Canada increased its stake in Haverty Furniture Companies by 13.8% in the 1st quarter. Royal Bank of Canada now owns 27,073 shares of the company’s stock worth $534,000 after buying an additional 3,293 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Haverty Furniture Companies by 30.5% in the first quarter. AQR Capital Management LLC now owns 162,821 shares of the company’s stock worth $3,211,000 after acquiring an additional 38,074 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Haverty Furniture Companies by 7.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock worth $175,000 after acquiring an additional 651 shares during the period. Empowered Funds LLC grew its position in shares of Haverty Furniture Companies by 7.4% during the first quarter. Empowered Funds LLC now owns 92,185 shares of the company’s stock worth $1,818,000 after purchasing an additional 6,387 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in Haverty Furniture Companies by 68.7% during the 1st quarter. Jane Street Group LLC now owns 172,099 shares of the company’s stock valued at $3,394,000 after purchasing an additional 70,060 shares during the period. 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.