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

Shares of Leon’s Furniture Limited (TSE:LNF) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$28.69 and traded as high as C$28.70. Leon’s Furniture shares last traded at C$28.21, with a volume of 4,839 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Canadian Imperial Bank of Commerce lifted their price objective on shares of Leon’s Furniture from C$31.00 to C$32.00 in a research note on Monday, November 10th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Leon’s Furniture presently has an average rating of “Moderate Buy” and a consensus target price of C$32.80.

Leon’s Furniture Stock Down 1.2%

The stock has a market cap of C$1.94 billion, a price-to-earnings ratio of 11.15 and a beta of 0.94. The company has a current ratio of 1.38, a quick ratio of 0.53 and a debt-to-equity ratio of 38.14. The stock’s 50-day moving average price is C$28.36 and its 200-day moving average price is C$28.69.

Leon’s Furniture (TSE:LNF) last released its earnings results on Thursday, November 6th. The company reported C$0.65 EPS for the quarter. Leon’s Furniture had a return on equity of 12.54% and a net margin of 5.24%.The business had revenue of C$678.63 million during the quarter. On average, sell-side analysts expect that Leon’s Furniture Limited will post 2.2104466 earnings per share for the current year.

Insider Transactions at Leon’s Furniture

In related news, insider John Andrew Cooney sold 2,200 shares of Leon’s Furniture stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of C$28.00, for a total value of C$61,600.00. Following the completion of the sale, the insider owned 52,274 shares of the company’s stock, valued at approximately C$1,463,672. This trade represents a 4.04% decrease in their position. Insiders own 69.49% of the company’s stock.

About Leon’s Furniture

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.