La-Z-Boy Incorporated (NYSE:LZB) Given Average Rating of “Hold” by Analysts

La-Z-Boy Incorporated (NYSE:LZB) has received an average recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $39.50.

A number of equities research analysts have commented on LZB shares. Wall Street Zen downgraded shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. KeyCorp cut their price objective on La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, August 20th. Zacks Research downgraded La-Z-Boy from a “hold” rating to a “strong sell” rating in a report on Thursday, August 20th. Finally, Weiss Ratings downgraded La-Z-Boy from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th.

La-Z-Boy Stock Performance

Shares of NYSE:LZB traded up $0.19 during midday trading on Friday, reaching $29.77. 78,175 shares of the company’s stock traded hands, compared to its average volume of 507,842. La-Z-Boy has a one year low of $29.03 and a one year high of $44.90. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 1.09 and a beta of 1.23. The stock has a 50 day moving average of $36.68 and a 200 day moving average of $36.09.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Tuesday, August 18th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). La-Z-Boy had a net margin of 3.86% and a return on equity of 11.79%. The company had revenue of $475.69 million for the quarter, compared to analysts’ expectations of $501.44 million. During the same period in the previous year, the business earned $0.47 EPS. The business’s revenue was down 3.4% compared to the same quarter last year. Sell-side analysts predict that La-Z-Boy will post 2.53 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Thursday, September 3rd were paid a $0.242 dividend. This represents a $0.97 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Thursday, September 3rd. La-Z-Boy’s dividend payout ratio is 49.24%.

Insider Buying and Selling

In other La-Z-Boy news, SVP Michael Leggett sold 9,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $41.66, for a total value of $374,940.00. Following the transaction, the senior vice president directly owned 47,551 shares in the company, valued at approximately $1,980,974.66. This trade represents a 15.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Raphaell Z. Richmond sold 13,671 shares of La-Z-Boy stock in a transaction 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 transaction, the vice president owned 51,695 shares in the company, valued at $2,059,011.85. This represents a 20.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 71,542 shares of company stock valued at $2,809,278 in the last 90 days. 3.12% of the stock is owned by insiders.

Institutional Investors Weigh In On La-Z-Boy

A number of hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its position in shares of La-Z-Boy by 5.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,827 shares of the company’s stock valued at $252,000 after acquiring an additional 379 shares during the period. Versant Capital Management Inc raised its holdings in La-Z-Boy by 172.8% in the 2nd quarter. Versant Capital Management Inc now owns 652 shares of the company’s stock worth $26,000 after purchasing an additional 413 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in La-Z-Boy in the 2nd quarter worth about $28,000. Rockefeller Capital Management L.P. boosted its position in La-Z-Boy by 159.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock worth $43,000 after purchasing an additional 713 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in La-Z-Boy by 112.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,510 shares of the company’s stock valued at $56,000 after purchasing an additional 798 shares during the period. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Company Profile

La-Z-Boy Incorporated is a residential furniture manufacturer and retailer best known for its upholstered recliners. The company offers a broad range of furniture for living rooms, family rooms, bedrooms and other areas of the home, including recliners, sofas, sectionals, chairs, ottomans, tables, beds and complementary home furnishings.

Founded in 1927 in Monroe, Michigan, La-Z-Boy built its reputation around its reclining chair and has expanded into a full-service home furnishings company.