Leon’s Furniture (TSE:LNF) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Leon’s Furniture Limited (TSE:LNF)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$27.28 and traded as low as C$24.78. Leon’s Furniture shares last traded at C$24.78, with a volume of 14,735 shares trading hands.

Analysts Set New Price Targets

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

Leon’s Furniture Stock Performance

The stock has a market capitalization of C$1.71 billion, a PE ratio of 11.01 and a beta of 0.93. 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 firm has a 50 day moving average of C$25.65 and a 200-day moving average of C$27.28.

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

Insider Buying and Selling

In related news, insider Darci Marie Walker acquired 1,500 shares of the company’s stock in a transaction on Friday, May 15th. The shares were purchased at an average price of C$24.00 per share, for a total transaction of C$36,000.00. Following the purchase, 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. Also, insider Lewis Mark Leon bought 1,500 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was bought at an average price of C$24.40 per share, with a total value of C$36,600.00. Following the transaction, the insider 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. Insiders have purchased 4,320 shares of company stock worth $104,915 over the last ninety days. 69.49% of the stock is currently owned by insiders.

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.