La-Z-Boy Stock Rating Reaffirmed by Raymond James (LZB)
La-Z-Boy (NYSE:LZB)‘s stock had its “strong-buy” rating reissued by investment analysts at Raymond James in a note issued to investors on Thursday. They currently have a $28.00 target price on the stock, down from their previous target price of $32.00. Raymond James’ target price indicates a potential upside of 28.79% from the stock’s previous close.
Shares of La-Z-Boy (NYSE:LZB) traded down 0.14% during mid-day trading on Thursday, hitting $21.71. The stock had a trading volume of 365,330 shares. La-Z-Boy has a 52 week low of $20.56 and a 52 week high of $31.22. The stock’s 50-day moving average is $21.94 and its 200-day moving average is $24.5. The company has a market cap of $1.126 billion and a price-to-earnings ratio of 21.33.
La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Tuesday, August 19th. The company reported $0.25 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.18 earnings per share. La-Z-Boy’s revenue was up 7.0% compared to the same quarter last year. On average, analysts predict that La-Z-Boy will post $1.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders 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 1.10%. The ex-dividend date is Wednesday, August 27th.
A number of other firms have also recently commented on LZB. Analysts at Zacks upgraded shares of La-Z-Boy from an “underperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $23.80 price target on the stock. Separately, 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. Finally, 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. One investment 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 company has an average rating of “Buy” and an average price target of $27.56.
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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