La-Z-Boy (NYSE:LZB) Rating Increased to Buy at Wall Street Zen

La-Z-Boy (NYSE:LZBGet Free Report) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Separately, KeyCorp upgraded La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 price objective for the company in a research report on Friday, April 25th.

Get Our Latest Research Report on LZB

La-Z-Boy Stock Performance

NYSE:LZB opened at $38.21 on Friday. The stock’s fifty day moving average price is $40.56 and its two-hundred day moving average price is $42.37. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 13.13 and a beta of 1.31. La-Z-Boy has a 52-week low of $33.34 and a 52-week high of $48.31.

Hedge Funds Weigh In On La-Z-Boy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LZB. Smartleaf Asset Management LLC raised its holdings in La-Z-Boy by 244.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 658 shares of the company’s stock worth $29,000 after purchasing an additional 467 shares during the period. Venturi Wealth Management LLC bought a new position in shares of La-Z-Boy during the 4th quarter valued at about $51,000. TD Private Client Wealth LLC increased its stake in La-Z-Boy by 22.8% during the 1st quarter. TD Private Client Wealth LLC now owns 1,355 shares of the company’s stock worth $53,000 after purchasing an additional 252 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in La-Z-Boy by 317.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock worth $71,000 after buying an additional 1,382 shares during the period. Finally, Johnson Financial Group Inc. lifted its stake in La-Z-Boy by 2,394.1% in the fourth quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company’s stock valued at $80,000 after buying an additional 1,628 shares in the last quarter. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Company Profile

(Get Free Report)

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures, and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, entertainment centers, and occasional pieces.

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