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

Shares of La-Z-Boy Incorporated (NYSE:LZB) have been given a consensus rating of “Moderate Buy” by the five analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $39.00.

Several research firms have weighed in on LZB. Wall Street Zen upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a report on Sunday, July 5th. Weiss Ratings upgraded La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st.

La-Z-Boy Trading Down 0.9%

Shares of LZB stock traded down $0.38 on Thursday, reaching $40.55. The company had a trading volume of 5,795 shares, compared to its average volume of 463,626. The stock has a market cap of $1.62 billion, a PE ratio of 16.43, a PEG ratio of 1.26 and a beta of 1.25. The company has a 50-day moving average of $38.82 and a 200-day moving average of $36.65. La-Z-Boy has a 12 month low of $29.03 and a 12 month high of $44.90.

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

Insider Transactions at La-Z-Boy

In other news, CEO Melinda D. Whittington sold 26,639 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $40.24, for a total transaction of $1,071,953.36. Following the completion of the sale, the chief executive officer owned 316,038 shares of the company’s stock, valued at $12,717,369.12. This represents a 7.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock was sold at an average price of $39.83, for a total transaction of $544,515.93. Following the sale, the vice president owned 51,695 shares in the company, valued at approximately $2,059,011.85. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 66,299 shares of company stock valued at $2,677,491. 3.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On La-Z-Boy

A number of large investors have recently added to or reduced their stakes in LZB. Quarry LP raised its stake in shares of La-Z-Boy by 4,785.7% in the 4th quarter. Quarry LP now owns 684 shares of the company’s stock valued at $25,000 after purchasing an additional 670 shares during the period. Versant Capital Management Inc boosted its position in shares of La-Z-Boy by 172.8% during the second quarter. Versant Capital Management Inc now owns 652 shares of the company’s stock worth $26,000 after buying an additional 413 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of La-Z-Boy by 290.0% during the second 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. grew its holdings in shares of La-Z-Boy by 99.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock worth $42,000 after buying an additional 567 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of 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 buying an additional 713 shares in the last quarter. Institutional investors own 99.62% of the company’s stock.

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.