Haverty Furniture Companies (NYSE:HVT) Raised to Strong-Buy at Wall Street Zen

Haverty Furniture Companies (NYSE:HVT) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Several other equities research analysts have also commented on the company. Zacks Research lowered Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a research report on Monday, December 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Haverty Furniture Companies in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Haverty Furniture Companies Stock Down 0.4%

HVT stock opened at $25.98 on Friday. The firm has a market cap of $422.55 million, a price-to-earnings ratio of 22.79, a PEG ratio of 1.04 and a beta of 1.32. The company’s fifty day simple moving average is $25.31 and its 200 day simple moving average is $23.26. Haverty Furniture Companies has a 12-month low of $17.01 and a 12-month high of $27.67.

Insiders Place Their Bets

In related news, Director Rawson Haverty, Jr. sold 7,500 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $24.86, for a total value of $186,450.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 14,354 shares of company stock worth $345,898. 8.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Haverty Furniture Companies by 3.2% in the third quarter. Vanguard Group Inc. now owns 910,883 shares of the company’s stock worth $19,976,000 after purchasing an additional 28,111 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Haverty Furniture Companies by 7.5% during the 2nd quarter. American Century Companies Inc. now owns 464,629 shares of the company’s stock worth $9,455,000 after purchasing an additional 32,413 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Haverty Furniture Companies by 21.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 371,843 shares of the company’s stock worth $8,686,000 after buying an additional 64,614 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Haverty Furniture Companies by 8.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 337,889 shares of the company’s stock valued at $6,876,000 after buying an additional 24,945 shares during the period. Finally, Hodges Capital Management Inc. bought a new position in Haverty Furniture Companies during the fourth quarter valued at about $4,948,000. 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.