Pitcairn Co. purchased a new stake in La-Z-Boy Incorporated (NYSE:LZB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,763 shares of the company’s stock, valued at approximately $237,000.
Several other large investors also recently bought and sold shares of the stock. Aigen Investment Management LP grew its position in La-Z-Boy by 1,316.3% in the first quarter. Aigen Investment Management LP now owns 1,388 shares of the company’s stock worth $29,000 after acquiring an additional 1,290 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in La-Z-Boy by 31.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,165 shares of the company’s stock worth $86,000 after acquiring an additional 996 shares during the period. Advisor Group Holdings Inc. purchased a new position in La-Z-Boy in the first quarter worth approximately $136,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in La-Z-Boy by 30.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,434 shares of the company’s stock worth $147,000 after acquiring an additional 1,269 shares during the period. Finally, IndexIQ Advisors LLC purchased a new position in La-Z-Boy in the first quarter worth approximately $188,000. 89.67% of the stock is owned by hedge funds and other institutional investors.
LZB has been the subject of several analyst reports. ValuEngine upgraded La-Z-Boy from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Stifel Nicolaus increased their price objective on La-Z-Boy from $25.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Sidoti raised their price target on La-Z-Boy from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. KeyCorp restated a “hold” rating on shares of La-Z-Boy in a research report on Wednesday, June 24th. Finally, Zacks Investment Research lowered La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. La-Z-Boy has an average rating of “Hold” and a consensus target price of $33.00.
LZB opened at $28.46 on Friday. La-Z-Boy Incorporated has a 52 week low of $15.61 and a 52 week high of $37.48. The business has a fifty day simple moving average of $27.36 and a 200-day simple moving average of $26.27. The firm has a market cap of $1.31 billion, a P/E ratio of 13.24 and a beta of 1.09. The company has a quick ratio of 1.27, a current ratio of 1.79 and a debt-to-equity ratio of 0.38.
La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, June 23rd. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.29. The firm had revenue of $367.30 million during the quarter, compared to analyst estimates of $384.96 million. La-Z-Boy had a return on equity of 14.15% and a net margin of 4.55%. La-Z-Boy’s revenue was down 19.1% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. Sell-side analysts expect that La-Z-Boy Incorporated will post 1.37 earnings per share for the current year.
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.
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