Insider Selling: Kurt Darrow Sells 59,816 Shares of La-Z-Boy Stock (LZB)
La-Z-Boy (NYSE:LZB) CEO Kurt Darrow sold 59,816 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $22.52, for a total transaction of $1,347,056.32. Following the sale, the chief executive officer now directly owns 324,865 shares of the company’s stock. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on LZB. Analysts at Zacks upgraded shares of La-Z-Boy (NYSE:LZB) from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, August 29th. They now have a $23.10 price target on the stock. Separately, analysts at Raymond James raised their price target on shares of La-Z-Boy (NYSE:LZB) from $24.00 to $25.00 in a research note to investors on Wednesday, August 21st. They now have a “strong-buy” rating on the stock. Finally, analysts at Sidoti downgraded shares of La-Z-Boy (NYSE:LZB) from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, August 15th.
Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. La-Z-Boy presently has an average rating of “Buy” and a consensus price target of $24.78.
Shares of La-Z-Boy (NYSE:LZB) traded up 1.24% on Monday, hitting $22.78. The stock had a trading volume of 368,863 shares. La-Z-Boy has a 52-week low of $13.30 and a 52-week high of $23.07. The stock’s 50-day moving average is $21.64 and its 200-day moving average is $19.65. The company has a market cap of $1.194 billion and a price-to-earnings ratio of 23.71.
La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.15 by $0.03. The company had revenue of $318.90 million for the quarter, compared to the consensus estimate of $323.02 million. During the same quarter last year, the company posted $0.08 earnings per share. La-Z-Boy’s revenue was up 5.8% compared to the same quarter last year. On average, analysts predict that La-Z-Boy will post $1.17 earnings per share for the current fiscal year.
La-Z-Boy Incorporated is a global producer of reclining chairs. The Company manufactures, markets, imports, distributes and retails upholstery products, accessories and casegoods (NYSE:LZB) furniture products.
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