Wall Street Zen Upgrades La-Z-Boy (NYSE:LZB) to Buy

La-Z-Boy (NYSE:LZB) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of La-Z-Boy in a research report on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, La-Z-Boy presently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

La-Z-Boy Price Performance

LZB opened at $38.50 on Friday. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 19.06 and a beta of 1.26. La-Z-Boy has a 1-year low of $29.03 and a 1-year high of $41.06. The business has a 50 day moving average price of $35.46 and a two-hundred day moving average price of $36.43.

Institutional Investors Weigh In On La-Z-Boy

A number of institutional investors and hedge funds have recently modified their holdings of LZB. Franklin Resources Inc. lifted its position in shares of La-Z-Boy by 208.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,492,928 shares of the company’s stock valued at $51,237,000 after acquiring an additional 1,009,428 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of La-Z-Boy in the fourth quarter worth $18,433,000. Goldman Sachs Group Inc. boosted its position in shares of La-Z-Boy by 100.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 627,638 shares of the company’s stock worth $23,392,000 after buying an additional 313,932 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of La-Z-Boy by 46.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 895,003 shares of the company’s stock worth $33,357,000 after buying an additional 283,364 shares during the period. Finally, Qube Research & Technologies Ltd boosted its position in shares of La-Z-Boy by 64.5% in the second quarter. Qube Research & Technologies Ltd now owns 391,470 shares of the company’s stock worth $14,551,000 after buying an additional 153,498 shares during the period. Institutional investors and hedge funds own 99.62% of the company’s stock.

La-Z-Boy Company Profile

La-Z-Boy Incorporated (NYSE: LZB) is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.

Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.