La-Z-Boy Incorporated (LZB) Raised to “Hold” at Zacks Investment Research
According to Zacks, “La-Z-Boy is the third largest furniture maker in the U.S., the largest reclining-chair manufacturer in the world and America’s largest manufacturer of upholstered furniture. “
Several other equities analysts have also recently weighed in on the company. Stifel Nicolaus cut La-Z-Boy from a buy rating to a hold rating and cut their price objective for the company from $33.00 to $30.00 in a report on Wednesday, February 22nd. Raymond James Financial, Inc. reiterated a market perform rating on shares of La-Z-Boy in a report on Thursday, January 5th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. La-Z-Boy currently has an average rating of Hold and a consensus price target of $29.67.
Shares of La-Z-Boy (NYSE:LZB) opened at 28.00 on Wednesday. The firm has a market cap of $1.37 billion, a P/E ratio of 17.49 and a beta of 0.89. The stock has a 50 day moving average of $28.01 and a 200 day moving average of $27.44. La-Z-Boy has a 52 week low of $22.09 and a 52 week high of $32.90.
La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Tuesday, February 21st. The company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. La-Z-Boy had a return on equity of 14.79% and a net margin of 5.22%. The business had revenue of $390 million for the quarter, compared to analysts’ expectations of $392.84 million. During the same quarter in the previous year, the business posted $0.43 EPS. La-Z-Boy’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts forecast that La-Z-Boy will post $1.65 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Monday, March 6th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Thursday, March 2nd. La-Z-Boy’s payout ratio is 27.85%.
Large investors have recently added to or reduced their stakes in the stock. Bowling Portfolio Management LLC boosted its stake in La-Z-Boy by 0.3% in the fourth quarter. Bowling Portfolio Management LLC now owns 11,434 shares of the company’s stock valued at $355,000 after buying an additional 33 shares during the last quarter. Sei Investments Co. boosted its stake in La-Z-Boy by 0.3% in the third quarter. Sei Investments Co. now owns 66,996 shares of the company’s stock valued at $1,645,000 after buying an additional 175 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in La-Z-Boy by 1.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 16,340 shares of the company’s stock valued at $401,000 after buying an additional 180 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in La-Z-Boy by 0.5% in the third quarter. Great West Life Assurance Co. Can now owns 66,634 shares of the company’s stock valued at $1,635,000 after buying an additional 353 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in La-Z-Boy by 1.2% in the third quarter. First Trust Advisors LP now owns 38,162 shares of the company’s stock valued at $937,000 after buying an additional 446 shares during the last quarter. Hedge funds and other institutional investors own 87.94% of the company’s stock.
La-Z-Boy Company Profile
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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