Haverty Furniture Companies (NYSE:HVT) Stock Rating Upgraded by StockNews.com

Haverty Furniture Companies (NYSE:HVT) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Haverty Furniture Companies Stock Performance

Shares of HVT opened at $25.54 on Thursday. The business has a 50-day moving average of $26.80 and a 200 day moving average of $27.60. Haverty Furniture Companies has a fifty-two week low of $23.09 and a fifty-two week high of $37.05. The firm has a market cap of $414.67 million, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 1.46 and a beta of 1.45.

Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.09. Haverty Furniture Companies had a return on equity of 12.58% and a net margin of 4.91%. The company had revenue of $178.60 million during the quarter, compared to analyst estimates of $182.37 million. As a group, research analysts predict that Haverty Furniture Companies will post 1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Haverty Furniture Companies by 22.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,545 shares of the company’s stock worth $140,000 after purchasing an additional 1,034 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Haverty Furniture Companies during the first quarter worth about $206,000. Harbor Capital Advisors Inc. grew its holdings in shares of Haverty Furniture Companies by 79.9% during the second quarter. Harbor Capital Advisors Inc. now owns 7,772 shares of the company’s stock worth $197,000 after purchasing an additional 3,451 shares in the last quarter. EMC Capital Management grew its holdings in shares of Haverty Furniture Companies by 10.3% during the first quarter. EMC Capital Management now owns 8,064 shares of the company’s stock worth $275,000 after purchasing an additional 750 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Haverty Furniture Companies by 179.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,506 shares of the company’s stock worth $324,000 after buying an additional 6,101 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.