La-Z-Boy Incorporated (LZB) - What Are Researchers Thinking About This Stock?

Key Points

• Analysts have a consensus “Hold” rating on La-Z-Boy, with three buys, one hold and one sell; the average 12-month price target is $39.50 versus a recent share price of $29.56.
• La-Z-Boy’s latest quarterly results fell short of expectations, with EPS of $0.43 versus $0.49 expected and revenue of $475.69 million versus $501.44 million estimated; revenue declined 3.4% year over year.
• The company pays an annualized $0.97 dividend, yielding about 3.3%, while institutional investors own 99.62% of shares. Two insiders recently sold stock, reducing their positions.

Shares of La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) have been given a consensus recommendation of "Hold" by the five brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $39.50.

A number of equities research analysts recently issued reports on LZB shares. Wall Street Zen downgraded shares of La-Z-Boy from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Zacks Research downgraded shares of La-Z-Boy from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 20th. KeyCorp decreased their price target on shares of La-Z-Boy from $46.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, August 20th. Finally, Weiss Ratings lowered shares of La-Z-Boy from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday.

Insiders Place Their Bets

In other news, Director Janet Kerr sold 3,653 shares of the business's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $31.75, for a total transaction of $115,982.75. Following the completion of the sale, the director owned 4,125 shares in the company, valued at approximately $130,968.75. The trade was a 46.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Sundy, II sold 5,000 shares of the business's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $30.85, for a total value of $154,250.00. Following the sale, the insider owned 59,297 shares of the company's stock, valued at $1,829,312.45. The trade was a 7.78% decrease in their position. The SEC filing for this sale provides additional information. 3.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in La-Z-Boy in the 2nd quarter worth approximately $265,535,000. William Blair Investment Management LLC acquired a new stake in La-Z-Boy in the second quarter valued at approximately $19,511,000. Bank of America Corp DE acquired a new stake in La-Z-Boy in the second quarter valued at approximately $17,346,000. Bank of New York Mellon Corp purchased a new stake in shares of La-Z-Boy during the second quarter valued at approximately $17,158,000. Finally, Empowered Funds LLC purchased a new stake in shares of La-Z-Boy during the second quarter valued at approximately $6,475,000. 99.62% of the stock is owned by institutional investors and hedge funds.

La-Z-Boy Stock Up 1.2%

Shares of NYSE:LZB traded up $0.35 during midday trading on Tuesday, reaching $29.56. The company's stock had a trading volume of 23,682 shares, compared to its average volume of 532,672. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. La-Z-Boy has a 1 year low of $28.79 and a 1 year high of $44.90. The business has a 50 day moving average price of $33.25 and a 200 day moving average price of $35.62.

La-Z-Boy (NYSE:LZB - Get Free Report) last released its earnings results on Tuesday, August 18th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The business had revenue of $475.69 million during the quarter, compared to analyst estimates of $501.44 million. La-Z-Boy had a net margin of 3.86% and a return on equity of 11.79%. The business's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 earnings per share. Sell-side analysts anticipate that La-Z-Boy will post 2.53 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Thursday, September 3rd were issued a $0.2420 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $0.97 dividend on an annualized basis and a yield of 3.3%. La-Z-Boy's dividend payout ratio (DPR) is presently 48.73%.

About La-Z-Boy

La-Z-Boy Incorporated NYSE: LZB is a furniture manufacturer and retailer best known for its upholstered reclining chairs. The company's product portfolio also includes sofas, sectionals, stationary chairs, loveseats, ottomans, tables, beds and other home furnishings, offered in a range of styles, fabrics and leather options.

La-Z-Boy operates through a combination of furniture manufacturing, wholesale and retail activities. Its products are sold through company-owned La-Z-Boy Furniture Galleries, independent furniture dealers and other retail channels, including its e-commerce platform.

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