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Shares of Haverty Furniture Companies Inc. (HVT - Free Report) gained 19.6% over the past one year. The company outperformed the Zacks categorized Retail-Home Furnishings industry, which has declined 18.2%. Notably, the industry is part of the bottom 40% of the Zacks Classified industries (159 out of the 265). The broader Retail and Wholesale sector is also placed at bottom 38% of the Zacks Classified sectors (10 out of 16).
Also, the stock exhibits a VGM Score A, instilling confidence about its momentum. Moreover, this Zacks Rank #3 (Hold) company has posted an average earnings surprise of 6.83%.
Haverty Furniture Companies, Inc. Price, Consensus and EPS Surprise
The company also appears promising from strong sales perspective. Recently, this retailer of full-service home furnishings registered a 2.2% increase in sales for the fourth quarter of 2016 to $220.6 million, better than the growth of 0.8% in the preceding quarter. Sales however missed the Zacks Consensus Estimate of $221.7 million. For full year 2016, sales increased 2.1% to $821.6 million.
On a comparable store basis, sales for the fourth quarter grew 2.5%, while it increased 2.1% for full year 2016.
The quarter sales improved on the back of strong Thanksgiving holiday season. Sales in the upholstery, mattress, and accessories categories significantly increased in the quarter over the prior year.
Total written sales in the fourth quarter of 2016 increased 5.3% and written comparable store sales improved 5.2% over the same period last year. This was driven by higher average tickets due to free in-home design service.
Haverty is scheduled to release its fourth-quarter 2016 results on Feb 21. We expect the company's solid fundamentals and store expansion plans to strengthen its presence in key markets through the addition or repositioning of stores. Moreover, the company is making innovation with respect to its technology developments. Also, its shareholder-friendly moves are noteworthy. Haverty Furniture however, faces competition in the furniture retail industry. Moreover, consumer spending and general economic issues remain major concerns for the company.
Key Picks
Some better-ranked stocks in the home furnishing industry include At Home Group Inc. and Pier 1 Imports, Inc. , both holding a Zacks Rank #2 (Buy). A better-ranked stock in the broader retail sector is Best Buy, Inc. (BBY - Free Report) , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Best Buy has an expected earnings growth rate of 11.87%. While At Home Group has a long-term earnings growth of 25.0%, Pier 1 Imports has a growth rate of 10.0% for the long term.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
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Haverty Furniture Gains Momentum, Q4 Sales Improve Y/Y
Shares of Haverty Furniture Companies Inc. (HVT - Free Report) gained 19.6% over the past one year. The company outperformed the Zacks categorized Retail-Home Furnishings industry, which has declined 18.2%. Notably, the industry is part of the bottom 40% of the Zacks Classified industries (159 out of the 265). The broader Retail and Wholesale sector is also placed at bottom 38% of the Zacks Classified sectors (10 out of 16).
Also, the stock exhibits a VGM Score A, instilling confidence about its momentum. Moreover, this Zacks Rank #3 (Hold) company has posted an average earnings surprise of 6.83%.
Haverty Furniture Companies, Inc. Price, Consensus and EPS Surprise
Haverty Furniture Companies, Inc. Price, Consensus and EPS Surprise | Haverty Furniture Companies, Inc. Quote
The company also appears promising from strong sales perspective. Recently, this retailer of full-service home furnishings registered a 2.2% increase in sales for the fourth quarter of 2016 to $220.6 million, better than the growth of 0.8% in the preceding quarter. Sales however missed the Zacks Consensus Estimate of $221.7 million. For full year 2016, sales increased 2.1% to $821.6 million.
On a comparable store basis, sales for the fourth quarter grew 2.5%, while it increased 2.1% for full year 2016.
The quarter sales improved on the back of strong Thanksgiving holiday season. Sales in the upholstery, mattress, and accessories categories significantly increased in the quarter over the prior year.
Total written sales in the fourth quarter of 2016 increased 5.3% and written comparable store sales improved 5.2% over the same period last year. This was driven by higher average tickets due to free in-home design service.
Haverty is scheduled to release its fourth-quarter 2016 results on Feb 21. We expect the company's solid fundamentals and store expansion plans to strengthen its presence in key markets through the addition or repositioning of stores. Moreover, the company is making innovation with respect to its technology developments. Also, its shareholder-friendly moves are noteworthy. Haverty Furniture however, faces competition in the furniture retail industry. Moreover, consumer spending and general economic issues remain major concerns for the company.
Key Picks
Some better-ranked stocks in the home furnishing industry include At Home Group Inc. and Pier 1 Imports, Inc. , both holding a Zacks Rank #2 (Buy). A better-ranked stock in the broader retail sector is Best Buy, Inc. (BBY - Free Report) , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Best Buy has an expected earnings growth rate of 11.87%. While At Home Group has a long-term earnings growth of 25.0%, Pier 1 Imports has a growth rate of 10.0% for the long term.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>