Zacks Investment Research Lowers Haverty Furniture Companies (NYSE:HVT) to Sell
According to Zacks, “Haverty Furniture Companies, Inc. (Havertys) is a full-service home furnishings retailer 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. “
Separately, TheStreet downgraded Haverty Furniture Companies from a “b-” rating to a “c+” rating in a report on Tuesday.
Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.07. The business had revenue of $213.84 million for the quarter, compared to the consensus estimate of $210.91 million. Haverty Furniture Companies had a return on equity of 8.67% and a net margin of 2.73%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.45 EPS. Equities analysts anticipate that Haverty Furniture Companies will post 1.25 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC raised its stake in Haverty Furniture Companies by 55.6% during the 3rd quarter. Parallel Advisors LLC now owns 1,665 shares of the company’s stock valued at $34,000 after acquiring an additional 595 shares in the last quarter. NEXT Financial Group Inc raised its stake in Haverty Furniture Companies by 36.3% during the 4th quarter. NEXT Financial Group Inc now owns 2,264 shares of the company’s stock valued at $46,000 after acquiring an additional 603 shares in the last quarter. State of Tennessee Treasury Department raised its stake in Haverty Furniture Companies by 8.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 8,588 shares of the company’s stock valued at $174,000 after acquiring an additional 675 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in Haverty Furniture Companies during the 3rd quarter valued at $25,000. Finally, James Investment Research Inc. raised its stake in Haverty Furniture Companies by 6.3% during the 3rd quarter. James Investment Research Inc. now owns 23,170 shares of the company’s stock valued at $470,000 after acquiring an additional 1,375 shares in the last quarter. 87.31% of the stock is currently 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, as well as mattress product lines under the Sealy, Tempur-Pedic, Serta, Stearns & Foster, and Beautyrest Black names.
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