La-Z-Boy Incorporated (NYSE:LZB – Get Free Report) VP Raphaell Richmond sold 13,671 shares of La-Z-Boy stock in a transaction on Monday, June 29th. The shares were sold at an average price of $39.83, for a total value of $544,515.93. Following the completion of the sale, the vice president owned 51,695 shares in the company, valued at $2,059,011.85. This represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
La-Z-Boy Trading Up 0.1%
NYSE LZB opened at $39.80 on Friday. The stock has a market cap of $1.59 billion, a PE ratio of 16.12, a P/E/G ratio of 1.21 and a beta of 1.25. La-Z-Boy Incorporated has a twelve month low of $29.03 and a twelve month high of $44.90. The stock has a fifty day simple moving average of $37.16 and a 200-day simple moving average of $36.47.
La-Z-Boy (NYSE:LZB – Get Free Report) last issued its quarterly earnings data on Tuesday, June 16th. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.The firm had revenue of $570.34 million during the quarter, compared to the consensus estimate of $569.23 million. During the same period last year, the company earned $0.36 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. Research analysts predict that La-Z-Boy Incorporated will post 2.98 EPS for the current year.
La-Z-Boy Dividend Announcement
Hedge Funds Weigh In On La-Z-Boy
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP increased its position in shares of La-Z-Boy by 4,785.7% during the fourth quarter. Quarry LP now owns 684 shares of the company’s stock worth $25,000 after acquiring an additional 670 shares during the period. Versant Capital Management Inc boosted its holdings in La-Z-Boy by 172.8% in the second quarter. Versant Capital Management Inc now owns 652 shares of the company’s stock valued at $26,000 after purchasing an additional 413 shares during the period. EverSource Wealth Advisors LLC grew its stake in La-Z-Boy by 290.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock worth $33,000 after purchasing an additional 670 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in La-Z-Boy by 99.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock worth $42,000 after purchasing an additional 567 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in La-Z-Boy by 159.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock worth $43,000 after purchasing an additional 713 shares during the period. Hedge funds and other institutional investors own 99.62% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. Wall Street Zen cut shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Weiss Ratings raised La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, La-Z-Boy presently has an average rating of “Moderate Buy” and an average price target of $39.00.
Check Out Our Latest Research Report on La-Z-Boy
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.
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