Insider Buying: Janet Kerr Buys 1,000 Shares of La-Z-Boy Stock (LZB)
La-Z-Boy (NYSE:LZB) Director Janet Kerr bought 1,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, June 20th. The stock was purchased at an average price of $23.21 per share, with a total value of $23,210.00. Following the purchase, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $62,667. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
La-Z-Boy (NYSE:LZB) traded down 0.52% on Tuesday, hitting $23.14. The stock had a trading volume of 597,857 shares. La-Z-Boy has a one year low of $18.60 and a one year high of $31.22. The stock has a 50-day moving average of $24.48 and a 200-day moving average of $26.57. The company has a market cap of $1.200 billion and a price-to-earnings ratio of 22.83.
La-Z-Boy (NYSE:LZB) last announced its 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 $1.41 EPS for the current fiscal year.
A number of analysts have recently weighed in on LZB shares. Analysts at Zacks downgraded shares of La-Z-Boy from a “neutral” rating to an “underperform” rating in a research note on Friday. They now have a $22.30 price target on the stock. Separately, 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, June 19th. They now have a $27.00 price target on the stock. Finally, analysts at Raymond James reiterated a “strong-buy” rating on shares of La-Z-Boy in a research note on Wednesday, June 18th. They now have a $32.00 price target on the stock, down previously from $34.50. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $28.22.
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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