La-Z-Boy Incorporated (NYSE:LZB) Receives $39.00 Consensus PT from Analysts

Shares of La-Z-Boy Incorporated (NYSE:LZB) have earned an average rating of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $39.00.

A number of research firms have issued reports on LZB. Wall Street Zen upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Sunday, July 5th. Weiss Ratings raised La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st.

La-Z-Boy Trading Down 0.7%

La-Z-Boy stock opened at $41.43 on Thursday. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27. The firm’s fifty day moving average price is $39.19 and its two-hundred day moving average price is $36.72. La-Z-Boy has a 1-year low of $29.03 and a 1-year high of $44.90.

La-Z-Boy (NYSE:LZB) last posted its earnings results on Tuesday, June 16th. The company reported $1.26 EPS for the quarter, topping the consensus estimate 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 company had revenue of $570.34 million during the quarter, compared to the consensus estimate of $569.23 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts forecast that La-Z-Boy will post 2.98 EPS for the current year.

Insider Buying and Selling at La-Z-Boy

In other La-Z-Boy news, insider Terrence James Linz sold 2,500 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $40.23, for a total transaction of $100,575.00. Following the transaction, the insider directly owned 64,383 shares in the company, valued at approximately $2,590,128.09. This trade represents a 3.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer Lynn Mccurry sold 3,715 shares of La-Z-Boy stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $41.05, for a total transaction of $152,500.75. Following the transaction, the chief accounting officer directly owned 16,763 shares in the company, valued at $688,121.15. This represents a 18.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 66,299 shares of company stock valued at $2,677,491 in the last three months. Insiders own 3.12% of the company’s stock.

Institutional Trading of La-Z-Boy

Institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in La-Z-Boy by 172.8% during the second 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 last quarter. Quarry LP increased its stake in La-Z-Boy by 4,785.7% in the 4th quarter. Quarry LP now owns 684 shares of the company’s stock valued at $25,000 after buying an additional 670 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of La-Z-Boy by 290.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock worth $33,000 after buying an additional 670 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of La-Z-Boy by 99.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock worth $42,000 after buying an additional 567 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of La-Z-Boy by 159.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock worth $43,000 after buying an additional 713 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

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.