Stock Buzzer: Haverty Furniture Companies, Inc. Just Reaches 1 Year Low?

Stock Buzzer: Haverty Furniture Companies, Inc. Just Reaches 1 Year Low?

The stock of Haverty Furniture Companies, Inc. (NYSE:HVT) hit a new 52-week low and has $15.99 target or 11.00% below today’s $17.97 share price. The 6 months bearish chart indicates high risk for the $378.52M company. The 1-year low was reported on Oct, 10 by Barchart.com. If the $15.99 price target is reached, the company will be worth $41.64M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 125,524 shares traded hands or 82.05% up from the average. Haverty Furniture Companies, Inc. (NYSE:HVT) has declined 4.54% since March 7, 2016 and is downtrending. It has underperformed by 12.13% the S&P500.

Analysts await Haverty Furniture Companies, Inc. (NYSE:HVT) to report earnings on October, 26. They expect $0.38 EPS, up 11.76% or $0.04 from last year’s $0.34 per share. HVT’s profit will be $8.00 million for 11.82 P/E if the $0.38 EPS becomes a reality. After $0.24 actual EPS reported by Haverty Furniture Companies, Inc. for the previous quarter, Wall Street now forecasts 58.33% EPS growth.

Haverty Furniture Companies, Inc. (NYSE:HVT) Ratings Coverage

Out of 2 analysts covering Haverty Furniture (NYSE:HVT), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Haverty Furniture has been the topic of 2 analyst reports since January 27, 2016 according to StockzIntelligence Inc. Raymond James upgraded the shares of HVT in a report on Tuesday, August 2 to “Strong Buy” rating. The stock of Haverty Furniture Companies, Inc. (NYSE:HVT) has “Sector Weight” rating given on Wednesday, January 27 by KeyBanc Capital Markets.

According to Zacks Investment Research, “Haverty Furniture Companies, Inc. is a full-service home furnishings retailer. The company operates showrooms in contiguous southern and central states. Havertys provides its customers with a wide selection of furniture and accessories primarily in the middle to upper-middle price ranges. As an added convenience to its customers, the company offers financing through a revolving charge credit plan.”

Insitutional Activity: The institutional sentiment decreased to 0.96 in Q2 2016. Its down 1.07, from 2.03 in 2016Q1. The ratio worsened, as 12 funds sold all Haverty Furniture Companies, Inc. shares owned while 33 reduced positions. 8 funds bought stakes while 35 increased positions. They now own 16.39 million shares or 1.97% less from 16.72 million shares in 2016Q1.
The New York-based Tower Research Cap Limited Com (Trc) has invested 0% in Haverty Furniture Companies, Inc. (NYSE:HVT). Hightower Advisors Lc has invested 0.01% of its portfolio in Haverty Furniture Companies, Inc. (NYSE:HVT). National Bank Of New York Mellon has 0% invested in the company for 249,031 shares. Fincl Bank Of Montreal Can has 9,126 shares for 0% of their US portfolio. Cutter And Com Brokerage owns 15,800 shares or 0.12% of their US portfolio. California State Teachers Retirement System holds 0% of its portfolio in Haverty Furniture Companies, Inc. (NYSE:HVT) for 41,204 shares. Tiaa Cref Invest Mngmt Limited Liability Corp has 88,891 shares for 0% of their US portfolio. Principal Group has 141,566 shares for 0% of their US portfolio. The New Jersey-based Blackrock Inv Mngmt Ltd Liability has invested 0% in Haverty Furniture Companies, Inc. (NYSE:HVT). Manufacturers Life Ins The accumulated 14,305 shares or 0% of the stock. Nwq Lc reported 1.51 million shares or 0.47% of all its holdings. D E Shaw holds 25,391 shares or 0% of its portfolio. Thrivent Financial For Lutherans has 0.02% invested in the company for 182,087 shares. Moreover, Goldman Sachs Group Inc has 0% invested in Haverty Furniture Companies, Inc. (NYSE:HVT) for 20,614 shares. Ftb Advsrs holds 843 shares or 0% of its portfolio.

Insider Transactions: Since May 17, 2016, the stock had 0 insider purchases, and 2 insider sales for $103,293 net activity. DeNiro Allan J sold 750 shares worth $14,790. BURDETTE STEVEN G sold $88,503 worth of stock or 4,900 shares.

More recent Haverty Furniture Companies, Inc. (NYSE:HVT) news were published by: Marketwatch.com which released: “Haverty Furniture Cos. Inc.” on October 18, 2010. Also Seekingalpha.com published the news titled: “Haverty Furniture: The Company, And The Stock, Look To Be In A Solid Position” on September 07, 2016. Seekingalpha.com‘s news article titled: “Haverty Furniture Companies’ (HVT) CEO Clarence Smith on Q1 2016 Results …” with publication date: May 03, 2016 was also an interesting one.

HVT Company Profile

Haverty Furniture Companies, Inc., incorporated on September 30, 1929, The Firm sells home furnishings in its retail stores and through its Website havertys.com. The Firm has over 120 stores in approximately 20 states in the southern and Midwest regions with over 4.4 million square feet retail store space. It offers financing through an internal revolving charge credit plan as well as a third-party finance company.

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