Insider Selling: Mark Bacon Unloads 8,000 Shares of La-Z-Boy Stock (LZB)
La-Z-Boy (NYSE:LZB) SVP Mark Bacon sold 8,000 shares of the stock on the open market in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $23.61, for a total transaction of $188,880.00. Following the completion of the sale, the senior vice president now directly owns 121,866 shares of the company’s stock, valued at approximately $2,877,256. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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, June 20th. 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $28.22.
Shares of La-Z-Boy (NYSE:LZB) traded down 0.47% on Friday, hitting $23.25. 1,170,306 shares of the company’s stock traded hands. La-Z-Boy has a one year low of $19.92 and a one year high of $31.22. The stock’s 50-day moving average is $24.46 and its 200-day moving average is $26.4. The company has a market cap of $1.205 billion and a P/E ratio of 22.92.
La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Tuesday, June 17th. The company reported $0.33 EPS for the quarter, meeting the Thomson Reuters 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 in the prior year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts predict that La-Z-Boy will post $1.41 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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