Haverty (HVT) Gaining Momentum: Should You Hold the Stock?
Shares of Haverty Furniture Companies, Inc. HVT have gained nearly 10.1% on a year-to-date basis, notably outperforming the Zacks categorized Retail-Home Furnishings industry, which has declined 22.1%. Also, the stock exhibits a VGM Score of “A,” instilling confidence about its momentum.
Moreover, this Zacks Rank #3 (Hold) company hit a 52-week high of $23.65 on Dec 9, though it eventually closed at $23.60.
The company also appears compelling from earnings perspective. This retailer of full-service home furnishings registered positive earnings surprises of 3% and 26.3% in the third and second quarters of 2016, respectively. Over the trailing four quarters, the company outperformed the Zacks Consensus Estimate by an average of 6.8%.
Additionally, the company is on track with its store expansion strategy. Going forward, the company will enter a new market in Greensboro, NC. Further, the company remains focused to reinforce its position in the regions located in key markets within reach of its most distribution units.
Moreover, the company is making innovations with respect to its technology developments. Also, its shareholder-friendly moves are noteworthy.
Recently, management updated its fourth-quarter 2016 sales and comps. Sales for quarter to date of 2016 rose nearly 1.1% year over year and comps increased 1.4%. Written sales were up 4.5% and written comps rose 4.7% over the same time frame. The written business for the four-day Thanksgiving holiday sales period improved roughly 14.3% in total, while its comps grew 16.0% year over year.
HAVERTY FURNIT Price and Consensus
HAVERTY FURNIT Price and Consensus | HAVERTY FURNIT Quote
However, Haverty Furniture faces competition in the furniture retail industry. Moreover, consumer spending and general economic issues remain major concerns for the company.
Stocks that Warrant a Look
Some better-ranked stocks in the retail space include The Children's Place, Inc. PLCE, Tilly's, Inc. TLYS and At Home Group Inc. HOME.
The Children's Place, with a long-term earnings growth rate of 10.3%, has gained roughly 100.4% year to date. The stock flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Tilly’s, with a long-term earnings growth rate of 15.5%, has skyrocketed 148.6 in the past six months.
At Home Group, with a long-term earnings growth rate of 25%, increased 21% in the past three months.
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