Leon’s Furniture (TSE:LNF) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Leon’s Furniture Limited (TSE:LNF)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$27.12 and traded as low as C$24.07. Leon’s Furniture shares last traded at C$24.40, with a volume of 45,785 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial upped their target price on shares of Leon’s Furniture from C$35.00 to C$36.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$33.00.

Leon’s Furniture Stock Performance

The company has a debt-to-equity ratio of 38.77, a quick ratio of 0.53 and a current ratio of 1.53. The stock’s 50-day moving average is C$25.59 and its 200 day moving average is C$27.12. The firm has a market cap of C$1.68 billion, a P/E ratio of 10.84 and a beta of 0.93.

Leon’s Furniture (TSE:LNF) last released its quarterly earnings data on Thursday, May 7th. The company reported C$0.29 EPS for the quarter. Leon’s Furniture had a net margin of 6.06% and a return on equity of 12.69%. The business had revenue of C$557.15 million during the quarter. On average, research analysts predict that Leon’s Furniture Limited will post 2.2104466 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Lewis Mark Leon acquired 1,500 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of C$24.40 per share, for a total transaction of C$36,600.00. Following the transaction, the insider directly owned 116,026 shares in the company, valued at approximately C$2,831,034.40. This represents a 1.31% increase in their ownership of the stock. Also, insider Darci Marie Walker acquired 1,500 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of C$24.00 per share, with a total value of C$36,000.00. Following the transaction, the insider owned 2,500 shares in the company, valued at C$60,000. This represents a 150.00% increase in their ownership of the stock. In the last 90 days, insiders purchased 4,320 shares of company stock valued at $104,915. 69.49% of the stock is owned by corporate insiders.

Leon’s Furniture Company Profile

Leon’s Furniture Ltd is a Canada-based retailer which is involved in the sale of home furnishing, mattresses, appliances, and electronics. The firm is also the country’s commercial retailer of appliances to builders, developers, hotels, and property management companies. It generates maximum revenue from sales of goods by corporate stores.