La-Z-Boy CEO Kurt Darrow Sells 42,509 Shares (LZB)
La-Z-Boy (NYSE:LZB) CEO Kurt Darrow unloaded 42,509 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $22.82, for a total transaction of $970,055.38. Following the completion of the sale, the chief executive officer now directly owns 324,865 shares of the company’s stock. The sale was disclosed in a legal filing 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 assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $24.78.
Shares of La-Z-Boy (NYSE:LZB) traded up 2.24% during mid-day trading on Wednesday, hitting $23.72. 407,975 shares of the company’s stock traded hands. La-Z-Boy has a 1-year low of $13.30 and a 1-year high of $23.33. The stock has a 50-day moving average of $21.79 and a 200-day moving average of $19.74. The company has a market cap of $1.244 billion and a P/E ratio of 24.45.
La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. 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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