Haverty Furniture Companies (NYSE:HVT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, January 12th. The brokerage presently has a $25.00 target price on the stock. Zacks Investment Research‘s target price points to a potential upside of 6.38% from the company’s previous close.
According to Zacks, “Haverty Furniture Companies, Inc. (Havertys) is a full-service home furnishings retailer with over 100 showrooms in 16 states in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle to upper-middle price ranges. Havertys is a true retailing institution. “
Haverty Furniture Companies (NYSE HVT) traded up $0.15 during trading on Friday, reaching $23.50. The company had a trading volume of 43,659 shares, compared to its average volume of 91,845. The stock has a market capitalization of $495.46, a PE ratio of 17.28, a PEG ratio of 3.54 and a beta of 1.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.16 and a current ratio of 2.17. Haverty Furniture Companies has a 12 month low of $21.05 and a 12 month high of $27.23.
Haverty Furniture Companies (NYSE:HVT) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $207.60 million during the quarter, compared to analysts’ expectations of $215.32 million. Haverty Furniture Companies had a return on equity of 8.21% and a net margin of 2.88%. Haverty Furniture Companies’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 earnings per share. equities research analysts anticipate that Haverty Furniture Companies will post 1.15 EPS for the current fiscal year.
In other Haverty Furniture Companies news, insider Rawson Haverty, Jr. sold 23,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $23.30, for a total transaction of $535,900.00. Following the completion of the sale, the insider now owns 82,331 shares of the company’s stock, valued at $1,918,312.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fred L. Schuermann sold 1,950 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $23.15, for a total value of $45,142.50. Following the sale, the director now directly owns 3 shares of the company’s stock, valued at approximately $69.45. The disclosure for this sale can be found here. Insiders have sold 32,871 shares of company stock valued at $769,483 in the last three months. 10.31% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HVT. SG Americas Securities LLC bought a new position in shares of Haverty Furniture Companies in the second quarter worth about $103,000. Russell Investments Group Ltd. boosted its stake in shares of Haverty Furniture Companies by 20.8% in the second quarter. Russell Investments Group Ltd. now owns 6,764 shares of the company’s stock worth $169,000 after acquiring an additional 1,164 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Haverty Furniture Companies by 53.6% in the second quarter. BNP Paribas Arbitrage SA now owns 7,165 shares of the company’s stock worth $180,000 after acquiring an additional 2,501 shares during the period. Stephens Inc. AR bought a new position in shares of Haverty Furniture Companies in the second quarter worth about $213,000. Finally, Citadel Advisors LLC bought a new position in Haverty Furniture Companies during the second quarter valued at approximately $288,000. 80.64% of the stock is owned by hedge funds and other institutional investors.
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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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