La-Z-Boy Incorporated (NYSE:LZB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of La-Z-Boy Incorporated (NYSE:LZB) have received an average rating of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $39.00.

A number of brokerages have commented on LZB. Wall Street Zen upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings raised shares of La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday.

Insiders Place Their Bets

In other La-Z-Boy news, CEO Melinda D. Whittington sold 7,364 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $40.00, for a total value of $294,560.00. Following the completion of the transaction, the chief executive officer owned 415,061 shares in the company, valued at approximately $16,602,440. This represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Raphaell Z. Richmond sold 13,671 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $39.83, for a total value of $544,515.93. Following the completion of the sale, the vice president directly owned 51,695 shares of the company’s stock, valued at approximately $2,059,011.85. This trade represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 66,299 shares of company stock worth $2,677,491. Corporate insiders own 2.66% of the company’s stock.

Institutional Trading of La-Z-Boy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP grew its position 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 buying an additional 670 shares during the period. Versant Capital Management Inc grew its holdings in shares of La-Z-Boy by 172.8% in the 2nd quarter. Versant Capital Management Inc now owns 652 shares of the company’s stock worth $26,000 after acquiring an additional 413 shares during the period. EverSource Wealth Advisors LLC increased its holdings in 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 acquiring an additional 670 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in 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 acquiring an additional 567 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in La-Z-Boy by 159.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock worth $43,000 after acquiring an additional 713 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

La-Z-Boy Stock Performance

La-Z-Boy stock traded down $0.10 during mid-day trading on Friday, reaching $39.80. 323,415 shares of the company were exchanged, compared to its average volume of 824,042. The firm’s 50-day simple moving average is $37.24 and its two-hundred day simple moving average is $36.50. La-Z-Boy has a twelve month low of $29.03 and a twelve month high of $44.90. The firm has a market cap of $1.59 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.22 and a beta of 1.25.

La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.44. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.The business had revenue of $570.34 million for the quarter, compared to analyst estimates of $569.23 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities research analysts anticipate that La-Z-Boy will post 2.98 EPS for the current year.

La-Z-Boy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were issued a $0.242 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, June 2nd. La-Z-Boy’s payout ratio is currently 39.27%.

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.