Shares of La-Z-Boy Incorporated (NYSE:LZB) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $30.00.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded La-Z-Boy from a “sell” rating to a “hold” rating in a research report on Thursday, December 15th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of La-Z-Boy in a research report on Thursday. They noted that the move was a valuation call. Finally, KeyCorp reiterated a “buy” rating and set a $28.00 price target on shares of La-Z-Boy in a research report on Monday, October 10th.
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In related news, SVP John Douglas Collier sold 12,000 shares of La-Z-Boy stock in a transaction on Monday, December 19th. The stock was sold at an average price of $32.53, for a total value of $390,360.00. Following the transaction, the senior vice president now directly owns 81,065 shares in the company, valued at approximately $2,637,044.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Louis M. Riccio, Jr. sold 20,000 shares of La-Z-Boy stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $32.12, for a total value of $642,400.00. Following the completion of the transaction, the vice president now owns 95,651 shares in the company, valued at $3,072,310.12. The disclosure for this sale can be found here. 3.57% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of LZB. Acrospire Investment Management LLC boosted its stake in shares of La-Z-Boy by 103.7% in the third quarter. Acrospire Investment Management LLC now owns 5,500 shares of the company’s stock valued at $135,000 after buying an additional 2,800 shares during the period. PineBridge Investments L.P. boosted its stake in shares of La-Z-Boy by 3.8% in the second quarter. PineBridge Investments L.P. now owns 6,327 shares of the company’s stock valued at $176,000 after buying an additional 231 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of 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 valued at $195,000 after buying an additional 842 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of La-Z-Boy during the second quarter valued at approximately $200,000. Finally, First Quadrant L P CA acquired a new stake in shares of La-Z-Boy during the second quarter valued at approximately $206,000. Institutional investors and hedge funds own 87.27% of the company’s stock.
La-Z-Boy (NYSE:LZB) opened at 29.95 on Thursday. The company’s 50-day moving average price is $30.42 and its 200 day moving average price is $27.68. The stock has a market capitalization of $1.47 billion, a P/E ratio of 18.92 and a beta of 0.94. La-Z-Boy has a 52-week low of $19.56 and a 52-week high of $32.90.
La-Z-Boy (NYSE:LZB) last issued its quarterly earnings results on Wednesday, November 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. La-Z-Boy had a return on equity of 14.79% and a net margin of 5.22%. The company had revenue of $376.60 million for the quarter, compared to analysts’ expectations of $376.29 million. During the same period last year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts anticipate that La-Z-Boy will post $1.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Friday, December 9th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.47%. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Wednesday, December 7th. La-Z-Boy’s payout ratio is presently 27.85%.
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.
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