La-Z-Boy Inc. (LZB) Rating Reiterated by KeyCorp
La-Z-Boy Inc. (NYSE:LZB)‘s stock had its “buy” rating reiterated by investment analysts at KeyCorp in a research report issued on Monday. They currently have a $28.00 price target on the stock. KeyCorp’s target price indicates a potential upside of 13.96% from the company’s current price.
LZB has been the subject of a number of other research reports. Longbow Research assumed coverage on La-Z-Boy in a research report on Friday, August 5th. They issued a “neutral” rating for the company. Zacks Investment Research raised La-Z-Boy from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $30.33.
Shares of La-Z-Boy (NYSE:LZB) traded down 0.89% during mid-day trading on Monday, reaching $24.57. The company’s stock had a trading volume of 180,419 shares. The firm’s 50-day moving average price is $26.13 and its 200 day moving average price is $27.04. The firm has a market cap of $1.21 billion, a P/E ratio of 15.72 and a beta of 1.27. La-Z-Boy has a 12-month low of $19.56 and a 12-month high of $31.22.
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La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data on Tuesday, August 23rd. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. The business earned $340.80 million during the quarter, compared to analyst estimates of $358.79 million. La-Z-Boy had a return on equity of 15.01% and a net margin of 5.21%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 EPS. On average, analysts expect that La-Z-Boy will post $1.71 EPS for the current year.
In other La-Z-Boy news, insider Otis S. Sawyer sold 5,935 shares of La-Z-Boy stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $27.46, for a total transaction of $162,975.10. Following the completion of the sale, the insider now owns 62,216 shares of the company’s stock, valued at approximately $1,708,451.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Douglas Collier sold 26,874 shares of La-Z-Boy stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $26.17, for a total value of $703,292.58. Following the sale, the insider now directly owns 98,849 shares of the company’s stock, valued at approximately $2,586,878.33. The disclosure for this sale can be found here. Company insiders own 3.57% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Mason Street Advisors LLC purchased a new stake in shares of La-Z-Boy during the second quarter worth approximately $271,000. Schwab Charles Investment Management Inc. boosted its stake in shares of La-Z-Boy by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 262,080 shares of the company’s stock worth $7,292,000 after buying an additional 10,476 shares in the last quarter. Walthausen & Co. LLC boosted its stake in shares of La-Z-Boy by 0.3% in the second quarter. Walthausen & Co. LLC now owns 279,830 shares of the company’s stock worth $7,785,000 after buying an additional 770 shares in the last quarter. Fiera Capital Corp bought a new position in La-Z-Boy during the second quarter worth $14,956,000. Finally, Numeric Investors LLC raised its position in La-Z-Boy by 158.7% in the second quarter. Numeric Investors LLC now owns 145,798 shares of the company’s stock worth $4,056,000 after buying an additional 89,440 shares during the last quarter. 86.05% of the stock is owned by institutional investors.
La-Z-Boy Company Profile
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.
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