La-Z-Boy (NYSE:LZB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, March 7th.
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. “
A number of other research firms also recently commented on LZB. KeyCorp reissued a “buy” rating and set a $36.00 target price on shares of La-Z-Boy in a research report on Friday, November 10th. ValuEngine downgraded shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of La-Z-Boy in a research report on Friday, December 1st. 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 company presently has a consensus rating of “Hold” and an average price target of $33.50.
La-Z-Boy (NYSE:LZB) opened at $31.25 on Wednesday. La-Z-Boy has a 12-month low of $23.15 and a 12-month high of $34.25. The company has a market cap of $1,477.94, a price-to-earnings ratio of 18.15 and a beta of 0.84.
La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, February 20th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.21). The firm had revenue of $413.64 million during the quarter, compared to the consensus estimate of $402.67 million. La-Z-Boy had a return on equity of 13.96% and a net margin of 4.74%. La-Z-Boy’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. equities analysts expect that La-Z-Boy will post 1.85 earnings per share for the current fiscal year.
In related news, insider John Douglas Collier sold 4,000 shares of the business’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $31.71, for a total value of $126,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Otis S. Sawyer sold 12,000 shares of the business’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $31.51, for a total transaction of $378,120.00. Following the completion of the sale, the senior vice president now directly owns 60,238 shares of the company’s stock, valued at approximately $1,898,099.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,910 shares of company stock valued at $2,595,625. Company insiders own 3.17% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in LZB. Toronto Dominion Bank purchased a new stake in shares of La-Z-Boy during the third quarter worth $135,000. Amalgamated Bank purchased a new stake in shares of La-Z-Boy during the fourth quarter worth $218,000. AMP Capital Investors Ltd acquired a new position in shares of La-Z-Boy during the 4th quarter valued at about $239,000. Crossmark Global Holdings Inc. acquired a new position in shares of La-Z-Boy during the 3rd quarter valued at about $254,000. Finally, Invictus RG acquired a new position in shares of La-Z-Boy during the 4th quarter valued at about $265,000. 88.52% of the stock is owned by institutional investors and hedge funds.
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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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