Analysts Set La-Z-Boy Incorporated (NYSE:LZB) PT at $39.00

Shares of La-Z-Boy Incorporated (NYSE:LZB) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $39.00.

Several research analysts have issued reports on LZB shares. Weiss Ratings raised La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Wall Street Zen raised La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Sunday, July 5th.

La-Z-Boy Price Performance

Shares of LZB opened at $39.26 on Friday. The firm’s 50 day moving average is $37.49 and its 200-day moving average is $36.46. The stock has a market capitalization of $1.57 billion, a P/E ratio of 15.90, a P/E/G ratio of 1.17 and a beta of 1.25. La-Z-Boy has a 12-month low of $29.03 and a 12-month high of $44.90.

La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, June 16th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.82 by $0.44. The business had revenue of $570.34 million during the quarter, compared to analyst estimates of $569.23 million. La-Z-Boy had a net margin of 4.80% and a return on equity of 11.97%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 earnings per share. As a group, equities research analysts forecast that La-Z-Boy will post 2.98 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were given a $0.242 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.5%. La-Z-Boy’s dividend payout ratio (DPR) is 39.27%.

Insider Transactions at La-Z-Boy

In other La-Z-Boy news, SVP Michael Adam Leggett sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $41.66, for a total value of $374,940.00. Following the completion of the transaction, the senior vice president directly owned 47,551 shares in the company, valued at $1,980,974.66. This trade represents a 15.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Terrence James Linz sold 2,500 shares of La-Z-Boy stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $40.23, for a total transaction of $100,575.00. Following the completion of the transaction, the insider directly owned 64,383 shares in the company, valued at approximately $2,590,128.09. This trade represents a 3.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 66,299 shares of company stock worth $2,677,491 in the last three months. Insiders own 2.66% of the company’s stock.

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 the company. Vanguard Group Inc. raised its stake in La-Z-Boy by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company’s stock valued at $179,422,000 after purchasing an additional 38,513 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of La-Z-Boy by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,694,255 shares of the company’s stock valued at $86,594,000 after purchasing an additional 38,870 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of La-Z-Boy by 24.0% in the fourth quarter. Franklin Resources Inc. now owns 1,851,873 shares of the company’s stock worth $69,019,000 after buying an additional 358,945 shares during the period. LSV Asset Management grew its holdings in shares of La-Z-Boy by 0.8% during the fourth quarter. LSV Asset Management now owns 1,476,882 shares of the company’s stock valued at $55,043,000 after buying an additional 11,983 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of La-Z-Boy by 46.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 895,003 shares of the company’s stock valued at $33,357,000 after buying an additional 283,364 shares in the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

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.