La-Z-Boy Incorporated (NYSE:LZB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

La-Z-Boy Incorporated (NYSE:LZB) has received a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $42.50.

Several brokerages recently weighed in on LZB. Sidoti raised shares of La-Z-Boy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $39.00 in a research note on Wednesday, November 19th. Weiss Ratings reissued a “hold (c)” rating on shares of La-Z-Boy in a research report on Monday, December 22nd. Zacks Research lowered shares of La-Z-Boy from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. KeyCorp reaffirmed an “overweight” rating on shares of La-Z-Boy in a research note on Wednesday, December 17th. Finally, Needham & Company LLC reissued a “buy” rating on shares of La-Z-Boy in a research note on Wednesday, December 17th.

Insider Buying and Selling

In other news, SVP Michael Adam Leggett sold 2,200 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $37.00, for a total transaction of $81,400.00. Following the completion of the transaction, the senior vice president owned 42,473 shares of the company’s stock, valued at $1,571,501. This represents a 4.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On La-Z-Boy

Institutional investors have recently bought and sold shares of the stock. Quarry LP raised its stake in La-Z-Boy by 4,785.7% during the fourth quarter. Quarry LP now owns 684 shares of the company’s stock worth $25,000 after purchasing an additional 670 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of La-Z-Boy by 75.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 755 shares of the company’s stock worth $26,000 after buying an additional 324 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of La-Z-Boy by 290.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock worth $33,000 after buying an additional 670 shares during the period. Geneos Wealth Management Inc. boosted its holdings in La-Z-Boy by 99.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock valued at $42,000 after acquiring an additional 567 shares during the last quarter. Finally, TD Private Client Wealth LLC purchased a new stake in La-Z-Boy during the fourth quarter valued at about $45,000. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

La-Z-Boy Trading Down 1.2%

Shares of LZB stock traded down $0.42 during trading hours on Monday, hitting $35.30. The company’s stock had a trading volume of 90,673 shares, compared to its average volume of 410,767. La-Z-Boy has a twelve month low of $29.03 and a twelve month high of $45.60. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 17.48 and a beta of 1.26. The business has a fifty day moving average of $37.73 and a 200-day moving average of $36.00.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, February 17th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. La-Z-Boy had a return on equity of 10.79% and a net margin of 3.93%.The firm had revenue of $541.59 million for the quarter, compared to analysts’ expectations of $535.47 million. During the same quarter in the prior year, the firm earned $0.68 EPS. La-Z-Boy’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that La-Z-Boy will post 2.99 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be given a dividend of $0.242 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $0.97 annualized dividend and a yield of 2.7%. La-Z-Boy’s dividend payout ratio is 48.02%.

About La-Z-Boy

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.