GSA Capital Partners LLP reduced its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 55.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,590 shares of the company’s stock after selling 13,252 shares during the quarter. GSA Capital Partners LLP’s holdings in La-Z-Boy were worth $344,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in La-Z-Boy during the 1st quarter worth $107,000. Point72 Asia Hong Kong Ltd purchased a new position in La-Z-Boy during the 1st quarter worth $110,000. Victory Capital Management Inc. increased its holdings in La-Z-Boy by 39.6% during the 1st quarter. Victory Capital Management Inc. now owns 4,252 shares of the company’s stock worth $115,000 after purchasing an additional 1,206 shares during the period. First Quadrant L P CA purchased a new position in La-Z-Boy during the 2nd quarter worth $167,000. Finally, Amalgamated Bank purchased a new position in La-Z-Boy during the 2nd quarter worth $217,000. Institutional investors own 86.78% of the company’s stock.
La-Z-Boy Incorporated (LZB) opened at 27.15 on Monday. La-Z-Boy Incorporated has a 12-month low of $22.09 and a 12-month high of $34.10. The stock has a market capitalization of $1.31 billion, a P/E ratio of 16.04 and a beta of 0.89. The firm’s 50-day moving average price is $25.71 and its 200 day moving average price is $28.49.
La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Tuesday, August 22nd. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). La-Z-Boy had a return on equity of 14.18% and a net margin of 5.45%. The firm had revenue of $357.10 million for the quarter, compared to analyst estimates of $359.34 million. During the same quarter last year, the company earned $0.28 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities analysts anticipate that La-Z-Boy Incorporated will post $1.73 EPS for the current year.
La-Z-Boy declared that its board has approved a share repurchase program on Tuesday, June 20th that permits the company to buyback 6,000,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
Several research firms have commented on LZB. BidaskClub downgraded La-Z-Boy from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Zacks Investment Research downgraded La-Z-Boy from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Sidoti downgraded La-Z-Boy from a “buy” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a report on Tuesday, August 1st. Finally, Stifel Nicolaus reduced their price objective on La-Z-Boy from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $31.50.
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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.
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