Zacks Investment Research upgraded shares of La-Z-Boy (NYSE:LZB) from a hold rating to a buy rating in a research report sent to investors on Wednesday, January 31st. The firm currently has $35.00 price objective on the stock.
According to Zacks, “La-Z-Boy Incorporated is one of the world’s leading residential furniture producers, marketing furniture for every room of the home. The La-Z-Boy Upholstery segment companies are La-Z-Boy and England. The Casegoods segment consists of three brands: American Drew, Hammary and Kincaid. The company-owned Retail segment of the La-Z-Boy Furniture Galleries stores. The corporation’s branded distribution network is dedicated to selling La-Z-Boy Incorporated products and brands, and includes the stand-alone La-Z-Boy Furniture Galleries stores and the independent Comfort Studio® locations, in addition to in-store gallery programs for Kincaid and England. “
Other research analysts have also issued reports about the stock. ValuEngine raised shares of La-Z-Boy from a hold rating to a buy rating in a research note on Thursday, November 30th. Stifel Nicolaus reiterated a hold rating on shares of La-Z-Boy in a research report on Friday, December 1st. Finally, KeyCorp reiterated a buy rating and set a $36.00 target price on shares of La-Z-Boy in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $33.50.
La-Z-Boy (LZB) opened at $29.30 on Wednesday. La-Z-Boy has a one year low of $23.15 and a one year high of $34.25. The firm has a market cap of $1,381.67, a P/E ratio of 16.74 and a beta of 0.89.
La-Z-Boy (NYSE:LZB) last released its earnings results on Wednesday, November 29th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. La-Z-Boy had a net margin of 5.53% and a return on equity of 14.33%. The company had revenue of $393.20 million for the quarter, compared to analysts’ expectations of $390.03 million. During the same quarter last year, the business earned $0.42 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. equities analysts expect that La-Z-Boy will post 1.78 earnings per share for the current year.
In other news, insider John Douglas Collier sold 4,000 shares of the business’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $31.71, for a total transaction of $126,840.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Otis S. Sawyer sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $31.51, for a total value of $378,120.00. Following the completion of the sale, the senior vice president now owns 60,238 shares in the company, valued at approximately $1,898,099.38. The disclosure for this sale can be found here. Insiders own 3.17% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Suntrust Banks Inc. boosted its position in La-Z-Boy by 2.2% in the second quarter. Suntrust Banks Inc. now owns 8,419 shares of the company’s stock valued at $273,000 after buying an additional 185 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in La-Z-Boy by 7.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,240 shares of the company’s stock valued at $138,000 after acquiring an additional 290 shares during the period. Voya Investment Management LLC lifted its holdings in La-Z-Boy by 2.2% in the second quarter. Voya Investment Management LLC now owns 87,185 shares of the company’s stock valued at $2,834,000 after acquiring an additional 1,904 shares during the period. Nordea Investment Management AB lifted its holdings in La-Z-Boy by 3.4% in the second quarter. Nordea Investment Management AB now owns 60,298 shares of the company’s stock valued at $1,960,000 after acquiring an additional 1,970 shares during the period. Finally, American International Group Inc. lifted its holdings in La-Z-Boy by 5.5% in the third quarter. American International Group Inc. now owns 38,244 shares of the company’s stock valued at $1,029,000 after acquiring an additional 2,006 shares during the period. Hedge funds and other institutional investors own 86.42% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “La-Z-Boy (LZB) Raised to Buy at Zacks Investment Research” was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2018/02/15/la-z-boy-lzb-upgraded-to-buy-at-zacks-investment-research.html.
La-Z-Boy Company Profile
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.
Get a free copy of the Zacks research report on La-Z-Boy (LZB)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for La-Z-Boy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La-Z-Boy and related companies with MarketBeat.com's FREE daily email newsletter.