La-Z-Boy Incorporated (NYSE:LZB – Get Free Report) VP Raphaell Richmond sold 13,671 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $39.83, for a total transaction of $544,515.93. Following the sale, the vice president directly owned 51,695 shares in the company, valued at approximately $2,059,011.85. The trade was a 20.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
La-Z-Boy Price Performance
Shares of NYSE:LZB traded up $0.16 during trading on Tuesday, hitting $40.11. 514,478 shares of the company were exchanged, compared to its average volume of 479,477. The firm’s 50 day moving average price is $36.93 and its 200-day moving average price is $36.46. La-Z-Boy Incorporated has a 12-month low of $29.03 and a 12-month high of $44.90. The stock has a market capitalization of $1.60 billion, a P/E ratio of 16.24, a PEG ratio of 1.25 and a beta of 1.26.
La-Z-Boy (NYSE:LZB – Get Free Report) last posted its earnings results on Tuesday, June 16th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.44. La-Z-Boy had a net margin of 4.80% and a return on equity of 11.97%. The firm had revenue of $570.34 million for the quarter, compared to the consensus estimate of $569.23 million. During the same period last year, the firm posted $0.36 EPS. The company’s revenue was down .1% on a year-over-year basis. As a group, equities research analysts anticipate that La-Z-Boy Incorporated will post 2.98 EPS for the current year.
La-Z-Boy Dividend Announcement
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. lifted its holdings in shares of La-Z-Boy by 49.5% during the first quarter. Pacer Advisors Inc. now owns 182,698 shares of the company’s stock worth $5,872,000 after purchasing an additional 60,518 shares during the period. Access Investment Management LLC increased its stake in La-Z-Boy by 103.2% in the 1st quarter. Access Investment Management LLC now owns 184,375 shares of the company’s stock valued at $5,926,000 after buying an additional 93,630 shares during the period. Bank of America Corp DE increased its stake in La-Z-Boy by 2.7% in the 1st quarter. Bank of America Corp DE now owns 430,129 shares of the company’s stock valued at $13,824,000 after buying an additional 11,422 shares during the period. Amundi purchased a new position in La-Z-Boy during the 1st quarter worth $350,000. Finally, Empowered Funds LLC acquired a new stake in shares of La-Z-Boy in the 1st quarter worth $4,884,000. Institutional investors and hedge funds own 99.62% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. Weiss Ratings raised La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Wall Street Zen lowered La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, La-Z-Boy currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.
Get Our Latest Research Report on LZB
La-Z-Boy Company Profile
La-Z-Boy Incorporated (NYSE: LZB) is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.
Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.
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