La-Z-Boy Rating Lowered to Underperform at Zacks (LZB)
La-Z-Boy (NYSE:LZB) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Friday. They currently have a $22.30 price objective on the stock. Zacks‘s price target would suggest a potential downside of 5.15% from the stock’s previous close.
A number of other analysts have also recently weighed in on LZB. Analysts at BB&T Corp. upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Thursday. They now have a $27.00 price target on the stock. Separately, analysts at Raymond James reiterated a “strong-buy” rating on shares of La-Z-Boy in a research note on Wednesday. They now have a $32.00 price target on the stock, down previously from $34.50. Finally, analysts at Barrington Research initiated coverage on shares of La-Z-Boy in a research note on Monday, June 2nd. They set an “outperform” rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. La-Z-Boy presently has a consensus rating of “Buy” and an average price target of $28.22.
La-Z-Boy (NYSE:LZB) traded down 1.40% on Friday, hitting $23.18. 609,377 shares of the company’s stock traded hands. La-Z-Boy has a 52 week low of $18.05 and a 52 week high of $31.22. The stock’s 50-day moving average is $24.60 and its 200-day moving average is $26.71. The company has a market cap of $1.213 billion and a price-to-earnings ratio of 20.95.
La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Tuesday, June 17th. The company reported $0.33 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.33. The company had revenue of $353.00 million for the quarter, compared to the consensus estimate of $369.20 million. During the same quarter last year, the company posted $0.30 earnings per share. La-Z-Boy’s revenue was up 2.1% compared to the same quarter last year. Analysts expect that La-Z-Boy will post $1.43 EPS 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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