La-Z-Boy’s (LZB) “Buy” Rating Reaffirmed at KeyCorp
La-Z-Boy Inc. (NYSE:LZB)‘s stock had its “buy” rating restated by equities research analysts at KeyCorp in a research report issued on Monday. They presently have a $28.00 target price on the stock. KeyCorp’s price target suggests a potential upside of 12.95% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded La-Z-Boy from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Friday, June 24th. Longbow Research started coverage on La-Z-Boy in a report on Friday, August 5th. They issued a “neutral” rating for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. La-Z-Boy has a consensus rating of “Hold” and an average price target of $30.33.
La-Z-Boy (NYSE:LZB) opened at 24.79 on Monday. La-Z-Boy has a 52 week low of $19.56 and a 52 week high of $31.22. The company’s 50-day moving average price is $26.28 and its 200 day moving average price is $27.02. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 15.86 and a beta of 1.27.
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La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, August 23rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. The firm had revenue of $340.80 million for the quarter, compared to the consensus estimate of $358.79 million. La-Z-Boy had a return on equity of 15.01% and a net margin of 5.21%. La-Z-Boy’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the company posted $0.27 EPS. On average, analysts predict that La-Z-Boy will post $1.71 EPS for the current year.
In other news, insider John Douglas Collier sold 26,874 shares of the firm’s 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 completion of the transaction, the insider now owns 98,849 shares in the company, valued at approximately $2,586,878.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Otis S. Sawyer sold 5,935 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $27.46, for a total value of $162,975.10. Following the completion of the transaction, the insider now owns 62,216 shares of the company’s stock, valued at approximately $1,708,451.36. The disclosure for this sale can be found here. 3.57% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the stock. Capstone Asset Management Co. increased its stake in shares of La-Z-Boy by 0.6% in the second quarter. Capstone Asset Management Co. now owns 14,703 shares of the company’s stock valued at $409,000 after buying an additional 90 shares during the period. Prudential Financial Inc. increased its stake in shares of La-Z-Boy by 20.6% in the second quarter. Prudential Financial Inc. now owns 553,990 shares of the company’s stock valued at $15,412,000 after buying an additional 94,800 shares during the period. Wellington Management Group LLP increased its stake in shares of La-Z-Boy by 2.4% in the first quarter. Wellington Management Group LLP now owns 2,175,316 shares of the company’s stock valued at $58,167,000 after buying an additional 50,884 shares during the period. BlackRock Group LTD increased its stake in shares of La-Z-Boy by 19.5% in the first quarter. BlackRock Group LTD now owns 109,630 shares of the company’s stock valued at $2,932,000 after buying an additional 17,922 shares during the period. Finally, Aperio Group LLC purchased a new stake in shares of La-Z-Boy during the first quarter valued at about $271,000. Institutional investors and hedge funds own 86.05% of the company’s stock.
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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