La-Z-Boy (LZB) Rating Lowered to Hold at ValuEngine
La-Z-Boy (NYSE:LZB) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
LZB has been the topic of several other reports. Zacks Investment Research raised shares of La-Z-Boy from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 25th. KeyCorp reaffirmed a “buy” rating and issued a $36.00 price target on shares of La-Z-Boy in a report on Friday, November 10th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of La-Z-Boy in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. La-Z-Boy has a consensus rating of “Hold” and a consensus target price of $33.00.
Shares of La-Z-Boy (NYSE LZB) traded down $0.50 during trading hours on Tuesday, reaching $30.95. 207,000 shares of the company were exchanged, compared to its average volume of 255,300. The company has a market capitalization of $1,470.00, a P/E ratio of 17.79 and a beta of 1.03. La-Z-Boy has a 52 week low of $23.15 and a 52 week high of $34.25.
In other La-Z-Boy news, SVP Otis S. Sawyer sold 12,000 shares of La-Z-Boy stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $31.51, for a total value of $378,120.00. Following the transaction, the senior vice president now directly owns 60,238 shares of the company’s stock, valued at $1,898,099.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Douglas Collier sold 4,000 shares of La-Z-Boy stock in a transaction on Friday, December 29th. The stock was sold at an average price of $31.71, for a total transaction of $126,840.00. The disclosure for this sale can be found here. 3.17% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of La-Z-Boy by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 3,055,455 shares of the company’s stock valued at $82,192,000 after buying an additional 38,806 shares during the last quarter. Northern Trust Corp lifted its position in La-Z-Boy by 1.7% during the second quarter. Northern Trust Corp now owns 1,255,701 shares of the company’s stock valued at $40,810,000 after purchasing an additional 20,775 shares during the period. State Street Corp lifted its position in La-Z-Boy by 2.9% during the second quarter. State Street Corp now owns 1,249,498 shares of the company’s stock valued at $40,609,000 after purchasing an additional 35,483 shares during the period. Boston Partners lifted its position in La-Z-Boy by 39.0% during the third quarter. Boston Partners now owns 1,059,506 shares of the company’s stock valued at $28,501,000 after purchasing an additional 297,244 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in La-Z-Boy by 28.5% during the second quarter. Ameriprise Financial Inc. now owns 634,811 shares of the company’s stock valued at $20,633,000 after purchasing an additional 140,951 shares during the period. 86.37% of the stock is currently owned by hedge funds and other institutional investors.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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