Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded La-Z-Boy from a sell rating to a hold rating in a report on Tuesday, September 13th. Longbow Research assumed coverage on La-Z-Boy in a report on Friday, August 5th. They issued a neutral rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $30.33.
La-Z-Boy (NYSE:LZB) opened at 24.12 on Monday. La-Z-Boy has a one year low of $19.56 and a one year high of $31.22. The firm has a 50-day moving average price of $25.69 and a 200-day moving average price of $26.98. The firm has a market capitalization of $1.19 billion, a P/E ratio of 15.43 and a beta of 1.27.
La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. La-Z-Boy had a net margin of 5.21% and a return on equity of 15.01%. The business earned $340.80 million during the quarter, compared to analysts’ expectations of $358.79 million. During the same quarter in the previous year, the company posted $0.27 EPS. The company’s revenue was down .2% compared to the same quarter last year. Equities analysts anticipate that La-Z-Boy will post $1.71 earnings per share for the current year.
In related news, insider John Douglas Collier sold 26,874 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $26.17, for a total transaction of $703,292.58. Following the transaction, the insider now owns 98,849 shares in the company, valued at approximately $2,586,878.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Otis S. Sawyer sold 5,935 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $27.46, for a total value of $162,975.10. Following the transaction, the insider now owns 62,216 shares in the company, valued at approximately $1,708,451.36. The disclosure for this sale can be found here. Corporate insiders own 3.57% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP increased its position in La-Z-Boy by 270.7% in the second quarter. Quantbot Technologies LP now owns 3,726 shares of the company’s stock worth $103,000 after buying an additional 2,721 shares in the last quarter. BlackRock Inc. increased its position in La-Z-Boy by 135.1% in the first quarter. BlackRock Inc. now owns 4,021 shares of the company’s stock worth $108,000 after buying an additional 2,311 shares in the last quarter. Gray Financial Group GA ADV ADV purchased a new position in La-Z-Boy during the second quarter worth about $155,000. PineBridge Investments L.P. increased its position in La-Z-Boy by 3.8% in the second quarter. PineBridge Investments L.P. now owns 6,327 shares of the company’s stock worth $176,000 after buying an additional 231 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in La-Z-Boy by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 7,017 shares of the company’s stock worth $195,000 after buying an additional 842 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.
Receive News & Ratings for La-Z-Boy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La-Z-Boy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.