StockNews.com Downgrades Haverty Furniture Companies (NYSE:HVT) to Hold

Haverty Furniture Companies (NYSE:HVT) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Haverty Furniture Companies Price Performance

NYSE HVT traded down $0.13 on Friday, hitting $23.74. The stock had a trading volume of 145,668 shares, compared to its average volume of 182,705. The business’s fifty day moving average price is $26.37 and its 200 day moving average price is $27.35. Haverty Furniture Companies has a 52-week low of $23.09 and a 52-week high of $37.05. The stock has a market cap of $385.44 million, a price-to-earnings ratio of 8.63, a price-to-earnings-growth ratio of 1.46 and a beta of 1.45.

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

Institutional Investors Weigh In On Haverty Furniture Companies

A number of large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its holdings in shares of Haverty Furniture Companies by 1.3% during the second quarter. Acadian Asset Management LLC now owns 31,855 shares of the company’s stock valued at $804,000 after buying an additional 395 shares during the last quarter. Wulff Hansen & CO. grew its holdings in shares of Haverty Furniture Companies by 2.9% during the second quarter. Wulff Hansen & CO. now owns 22,662 shares of the company’s stock valued at $573,000 after buying an additional 648 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Haverty Furniture Companies by 6.1% during the second quarter. Texas Permanent School Fund Corp now owns 12,388 shares of the company’s stock valued at $313,000 after buying an additional 714 shares during 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 valued at $275,000 after buying an additional 750 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Haverty Furniture Companies by 1.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 60,706 shares of the company’s stock valued at $2,071,000 after buying an additional 907 shares during the last quarter. 80.57% of the stock is owned by hedge funds and other institutional investors.

About Haverty Furniture Companies

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.