La-Z-Boy (NYSE:LZB) Cut to “Hold” at Wall Street Zen

La-Z-Boy (NYSE:LZBGet Free Report) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

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

Get Our Latest Stock Report on LZB

La-Z-Boy Trading Down 0.5%

Shares of La-Z-Boy stock opened at $38.07 on Friday. The company’s fifty day simple moving average is $40.59 and its 200-day simple moving average is $42.10. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 19.23 and a beta of 1.31. La-Z-Boy has a 1 year low of $35.18 and a 1 year high of $48.31.

La-Z-Boy (NYSE:LZBGet Free Report) last issued its earnings results on Tuesday, June 17th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.01). The firm had revenue of $570.87 million during the quarter, compared to the consensus estimate of $557.44 million. La-Z-Boy had a return on equity of 8.18% and a net margin of 5.92%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the business earned $0.95 earnings per share. As a group, research analysts forecast that La-Z-Boy will post 2.99 earnings per share for the current fiscal year.

Institutional Trading of La-Z-Boy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in La-Z-Boy by 9.0% in the first quarter. Rhumbline Advisers now owns 174,735 shares of the company’s stock worth $6,830,000 after purchasing an additional 14,443 shares during the period. Strs Ohio acquired a new position in shares of La-Z-Boy during the 1st quarter worth about $579,000. Intech Investment Management LLC grew its position in shares of La-Z-Boy by 101.4% during the 1st quarter. Intech Investment Management LLC now owns 77,806 shares of the company’s stock worth $3,041,000 after buying an additional 39,170 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of La-Z-Boy by 3.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,836 shares of the company’s stock worth $971,000 after buying an additional 769 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of La-Z-Boy during the 1st quarter worth about $10,806,000. 99.62% of the stock is currently owned by institutional investors and hedge funds.

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.

Recommended Stories

Receive News & Ratings for La-Z-Boy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La-Z-Boy and related companies with MarketBeat.com's FREE daily email newsletter.