La-Z-Boy (NYSE:LZB) Stock Passes Above 200-Day Moving Average – Time to Sell?

La-Z-Boy Incorporated (NYSE:LZB)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $36.18 and traded as high as $38.02. La-Z-Boy shares last traded at $37.95, with a volume of 160,899 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LZB shares. Needham & Company LLC reiterated a “buy” rating on shares of La-Z-Boy in a research note on Wednesday, December 17th. Sidoti upgraded La-Z-Boy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $36.00 to $39.00 in a report on Wednesday, November 19th. KeyCorp reaffirmed an “overweight” rating on shares of La-Z-Boy in a research report on Wednesday, December 17th. Weiss Ratings reissued a “hold (c)” rating on shares of La-Z-Boy in a research report on Monday. Finally, Zacks Research upgraded shares of La-Z-Boy from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $42.50.

La-Z-Boy Stock Up 0.5%

The stock has a market cap of $1.57 billion, a PE ratio of 17.41 and a beta of 1.28. The firm has a fifty day moving average of $35.50 and a 200 day moving average of $36.18.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Tuesday, November 18th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.17. La-Z-Boy had a return on equity of 11.19% and a net margin of 4.29%.The business had revenue of $522.48 million during the quarter, compared to analysts’ expectations of $517.63 million. During the same period in the prior year, the firm posted $0.71 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts forecast that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Thursday, December 4th were issued a $0.242 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 2.6%. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, December 4th. La-Z-Boy’s dividend payout ratio is currently 44.50%.

Institutional Trading of La-Z-Boy

Several institutional investors have recently modified their holdings of LZB. GAMMA Investing LLC boosted its holdings in shares of La-Z-Boy by 116.9% in the 2nd quarter. GAMMA Investing LLC now owns 746 shares of the company’s stock valued at $28,000 after buying an additional 402 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in La-Z-Boy by 75.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 755 shares of the company’s stock worth $26,000 after acquiring an additional 324 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in La-Z-Boy by 290.0% in the second quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after acquiring an additional 670 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in La-Z-Boy by 99.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock valued at $42,000 after acquiring an additional 567 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in La-Z-Boy by 3,130.8% in the third quarter. CIBC Private Wealth Group LLC now owns 1,260 shares of the company’s stock valued at $43,000 after acquiring an additional 1,221 shares in the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

About La-Z-Boy

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.