Haverty Furniture Companies, Inc. (NYSE:HVT) – Equities researchers at KeyCorp dropped their FY2017 earnings estimates for Haverty Furniture Companies in a research report issued to clients and investors on Monday. KeyCorp analyst B. Thomas now forecasts that the company will post earnings of $1.16 per share for the year, down from their previous estimate of $1.20. KeyCorp also issued estimates for Haverty Furniture Companies’ Q4 2017 earnings at $0.32 EPS.
Separately, Zacks Investment Research upgraded Haverty Furniture Companies from a “hold” rating to a “strong-buy” rating and set a $31.00 price target for the company in a research note on Wednesday, October 4th.
Shares of Haverty Furniture Companies (NYSE:HVT) opened at $22.55 on Wednesday. The stock has a market capitalization of $478.43, a price-to-earnings ratio of 17.21, a P/E/G ratio of 4.22 and a beta of 1.13. Haverty Furniture Companies has a one year low of $21.05 and a one year high of $27.23. The company has a quick ratio of 1.16, a current ratio of 2.17 and a debt-to-equity ratio of 0.18.
Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings results on Tuesday, October 31st. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The business had revenue of $207.60 million during the quarter, compared to the consensus estimate of $215.32 million. Haverty Furniture Companies had a return on equity of 10.10% and a net margin of 3.53%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS.
Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Haverty Furniture Companies in the 2nd quarter worth about $103,000. Russell Investments Group Ltd. increased its holdings in Haverty Furniture Companies by 20.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,764 shares of the company’s stock worth $169,000 after purchasing an additional 1,164 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Haverty Furniture Companies by 53.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,165 shares of the company’s stock worth $180,000 after purchasing an additional 2,501 shares in the last quarter. Stephens Inc. AR acquired a new position in Haverty Furniture Companies in the 2nd quarter worth about $213,000. Finally, Citadel Advisors LLC acquired a new position in Haverty Furniture Companies in the 2nd quarter worth about $288,000. 80.64% of the stock is owned by institutional investors.
In other Haverty Furniture Companies news, insider Rawson Haverty, Jr. sold 23,000 shares of Haverty Furniture Companies stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $23.30, for a total value of $535,900.00. Following the completion of the transaction, the insider now directly owns 82,331 shares of the company’s stock, valued at approximately $1,918,312.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fred L. Schuermann sold 1,950 shares of Haverty Furniture Companies stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $23.15, for a total value of $45,142.50. Following the completion of the transaction, the director now directly owns 3 shares of the company’s stock, valued at $69.45. The disclosure for this sale can be found here. Insiders sold a total of 32,871 shares of company stock valued at $769,483 over the last 90 days. 10.31% of the stock is currently owned by corporate insiders.
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Haverty Furniture Companies Company Profile
Haverty Furniture Companies, Inc is a retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website, havertys.com. As of December 31, 2016, the Company had 124 stores in 16 states in the Southern and Midwest regions. As of December 31, 2016, the Company’s retail store space totaled approximately 4.5 million square feet for 124 stores.
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