Benchmark Reiterates Buy Rating for Haverty Furniture Companies (NYSE:HVT)

Haverty Furniture Companies (NYSE:HVT)‘s stock had its “buy” rating restated by stock analysts at Benchmark in a research note issued to investors on Thursday, Benzinga reports. They currently have a $45.00 price target on the stock. Benchmark’s target price suggests a potential upside of 56.74% from the stock’s previous close.

Separately, StockNews.com cut shares of Haverty Furniture Companies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 6th.

Haverty Furniture Companies Stock Performance

Shares of NYSE:HVT traded up $0.19 on Thursday, hitting $28.71. 146,467 shares of the company’s stock were exchanged, compared to its average volume of 89,685. Haverty Furniture Companies has a 1-year low of $25.05 and a 1-year high of $37.05. The company has a market capitalization of $463.67 million, a PE ratio of 10.44, a P/E/G ratio of 1.02 and a beta of 1.54. The firm’s 50-day moving average is $32.08 and its 200 day moving average is $32.49.

Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.06). Haverty Furniture Companies had a net margin of 5.64% and a return on equity of 14.94%. The business had revenue of $210.74 million during the quarter, compared to analyst estimates of $230.06 million. On average, analysts anticipate that Haverty Furniture Companies will post 2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Haverty Furniture Companies

Several large investors have recently modified their holdings of HVT. Invesco Ltd. raised its position in Haverty Furniture Companies by 8.8% in the 3rd quarter. Invesco Ltd. now owns 322,446 shares of the company’s stock valued at $9,280,000 after purchasing an additional 26,157 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Haverty Furniture Companies by 109.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 59,178 shares of the company’s stock valued at $2,101,000 after buying an additional 30,894 shares during the last quarter. Swiss National Bank boosted its stake in shares of Haverty Furniture Companies by 2.1% during the third quarter. Swiss National Bank now owns 29,700 shares of the company’s stock worth $855,000 after buying an additional 600 shares during the period. Rhumbline Advisers grew its holdings in shares of Haverty Furniture Companies by 58.6% during the third quarter. Rhumbline Advisers now owns 114,258 shares of the company’s stock worth $3,288,000 after buying an additional 42,198 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Haverty Furniture Companies by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 299,501 shares of the company’s stock valued at $8,620,000 after acquiring an additional 7,620 shares during the period. 80.57% of the stock is owned by institutional investors and hedge funds.

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.