La-Z-Boy Incorporated (LZB) Given Average Rating of “Hold” by Analysts

La-Z-Boy Incorporated (NYSE:LZB) has been given a consensus recommendation of “Hold” by the six analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $35.67.

A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of La-Z-Boy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Stifel Nicolaus reissued a “hold” rating on shares of La-Z-Boy in a research report on Friday, December 1st. ValuEngine raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Thursday, November 30th. Finally, KeyCorp reissued a “buy” rating and set a $36.00 price target on shares of La-Z-Boy in a research report on Friday, November 10th.

In other La-Z-Boy news, SVP Otis S. Sawyer sold 12,000 shares of La-Z-Boy stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $31.51, for a total value of $378,120.00. Following the completion of the transaction, the senior vice president now owns 60,238 shares of the company’s stock, valued at $1,898,099.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Douglas Collier sold 4,000 shares of La-Z-Boy stock in a transaction on Friday, December 29th. The stock was sold at an average price of $31.71, for a total transaction of $126,840.00. The disclosure for this sale can be found here. Insiders own 3.17% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in La-Z-Boy by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,055,455 shares of the company’s stock worth $82,192,000 after purchasing an additional 38,806 shares during the period. Northern Trust Corp boosted its holdings in La-Z-Boy by 1.7% in the second quarter. Northern Trust Corp now owns 1,255,701 shares of the company’s stock worth $40,810,000 after purchasing an additional 20,775 shares during the period. State Street Corp boosted its holdings in La-Z-Boy by 2.9% in the second quarter. State Street Corp now owns 1,249,498 shares of the company’s stock worth $40,609,000 after purchasing an additional 35,483 shares during the period. Boston Partners boosted its holdings in La-Z-Boy by 11.1% in the fourth quarter. Boston Partners now owns 1,176,610 shares of the company’s stock worth $36,710,000 after purchasing an additional 117,104 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in La-Z-Boy by 5.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 413,760 shares of the company’s stock worth $12,910,000 after purchasing an additional 21,020 shares during the period. 86.24% of the stock is owned by hedge funds and other institutional investors.

Shares of La-Z-Boy (LZB) opened at $29.55 on Friday. La-Z-Boy has a 1 year low of $23.15 and a 1 year high of $34.25. The firm has a market cap of $1,420.00, a P/E ratio of 16.98 and a beta of 0.89.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Wednesday, November 29th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. La-Z-Boy had a net margin of 5.53% and a return on equity of 14.33%. The business had revenue of $393.20 million during the quarter, compared to the consensus estimate of $390.03 million. During the same quarter last year, the company earned $0.42 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. research analysts anticipate that La-Z-Boy will post 1.78 earnings per share for the current fiscal year.

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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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