La-Z-Boy (NYSE:LZB) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

La-Z-Boy (NYSE:LZB) posted its quarterly earnings data on Tuesday. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02, FiscalAI reports. The business had revenue of $541.59 million during the quarter, compared to the consensus estimate of $535.47 million. La-Z-Boy had a net margin of 4.29% and a return on equity of 11.19%.

La-Z-Boy Stock Performance

NYSE LZB traded down $0.44 on Tuesday, hitting $37.91. The stock had a trading volume of 444,095 shares, compared to its average volume of 385,168. The firm has a 50-day moving average of $38.30 and a 200-day moving average of $36.04. La-Z-Boy has a 52-week low of $29.03 and a 52-week high of $48.13. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 17.39 and a beta of 1.27.

Institutional Trading of La-Z-Boy

Several institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP raised its stake in La-Z-Boy by 4,785.7% in the fourth quarter. Quarry LP now owns 684 shares of the company’s stock valued at $25,000 after purchasing an additional 670 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of La-Z-Boy by 290.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after buying an additional 670 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of La-Z-Boy by 99.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock valued at $42,000 after buying an additional 567 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of La-Z-Boy by 3,130.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,260 shares of the company’s stock worth $43,000 after acquiring an additional 1,221 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in La-Z-Boy in the fourth quarter worth $54,000. Hedge funds and other institutional investors own 99.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on LZB. Needham & Company LLC reiterated a “buy” rating on shares of La-Z-Boy in a research note on Wednesday, December 17th. Sidoti raised La-Z-Boy from a “neutral” rating to a “buy” rating and upped their price target for the company from $36.00 to $39.00 in a research report on Wednesday, November 19th. KeyCorp reissued an “overweight” rating on shares of La-Z-Boy in a report on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of La-Z-Boy in a research report on Monday, December 22nd. Finally, Zacks Research downgraded shares of La-Z-Boy from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

La-Z-Boy Company Profile

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.