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

Shares of Haverty Furniture Companies, Inc. (NYSE:HVT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.36 and traded as high as $23.67. Haverty Furniture Companies shares last traded at $23.4290, with a volume of 65,713 shares trading hands.

Wall Street Analyst Weigh In

HVT has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Haverty Furniture Companies in a research report on Friday, March 27th. Wall Street Zen lowered shares of Haverty Furniture Companies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Zacks Research lowered shares of Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Haverty Furniture Companies has a consensus rating of “Reduce”.

Haverty Furniture Companies Stock Performance

The firm has a market capitalization of $378.14 million, a P/E ratio of 20.02, a P/E/G ratio of 1.03 and a beta of 1.33. The stock’s 50 day simple moving average is $22.93 and its 200 day simple moving average is $23.36.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings data on Monday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Haverty Furniture Companies had a net margin of 2.60% and a return on equity of 6.45%. The firm had revenue of $201.92 million for the quarter, compared to the consensus estimate of $197.47 million. On average, analysts anticipate that Haverty Furniture Companies, Inc. will post 1.88 earnings per share for the current year.

Haverty Furniture Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, March 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.6%. Haverty Furniture Companies’s dividend payout ratio (DPR) is currently 112.82%.

Institutional Investors Weigh In On Haverty Furniture Companies

Institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in Haverty Furniture Companies in the third quarter valued at approximately $1,118,000. Assenagon Asset Management S.A. acquired a new stake in Haverty Furniture Companies in the third quarter valued at approximately $1,123,000. Tectonic Advisors LLC acquired a new stake in Haverty Furniture Companies in the fourth quarter valued at approximately $1,990,000. SG Capital Management LLC acquired a new stake in Haverty Furniture Companies in the third quarter valued at approximately $325,000. Finally, Essex Investment Management Co. LLC boosted its stake in Haverty Furniture Companies by 3.4% in the third quarter. Essex Investment Management Co. LLC now owns 75,658 shares of the company’s stock valued at $1,659,000 after acquiring an additional 2,458 shares in the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.

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.