La-Z-Boy Upgraded at Zacks (LZB)
La-Z-Boy (NYSE:LZB) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Wednesday. The firm currently has a $23.80 price objective on the stock. Zacks‘s price objective indicates a potential upside of 2.50% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of La-Z-Boy in a research note on Monday, July 21st. They now have a $29.00 price target on the stock, down previously from $31.00. 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 equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $28.36.
Shares of La-Z-Boy (NYSE:LZB) traded down 5.81% on Wednesday, hitting $21.87. The stock had a trading volume of 1,261,625 shares. La-Z-Boy has a one year low of $20.48 and a one year high of $31.22. The stock’s 50-day moving average is $22. and its 200-day moving average is $24.59. The company has a market cap of $1.134 billion and a P/E ratio of 22.79.
La-Z-Boy (NYSE:LZB) last released its earnings data on Tuesday, August 19th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. The company had revenue of $327.00 million for the quarter, compared to the consensus estimate of $321.28 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts predict that La-Z-Boy will post $1.40 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.03%.
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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