La-Z-Boy Incorporated (NYSE:LZB) Given Consensus Rating of "Hold" by Analysts

Key Points

• La-Z-Boy has a consensus “Hold” rating from five analysts: three buys, one hold and one sell. The average 12-month price target is $39.50, compared with a recent share price of $29.77.
• The company’s latest quarterly results fell short of expectations, with EPS of $0.43 versus the $0.49 consensus and revenue of $475.69 million versus $501.44 million expected. Revenue declined 3.4% year over year.
• La-Z-Boy maintains a quarterly dividend of $0.242 per share, equivalent to an annualized $0.97 payout and a 3.3% yield. Insiders sold 71,542 shares worth approximately $2.8 million during the latest quarter.

Shares of La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) have been assigned a consensus recommendation of "Hold" from the five ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $39.50.

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

La-Z-Boy Price Performance

NYSE:LZB traded up $0.19 during trading hours on Friday, hitting $29.77. The stock had a trading volume of 78,175 shares, compared to its average volume of 507,842. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 1.09 and a beta of 1.23. La-Z-Boy has a one year low of $29.03 and a one year high of $44.90. The company has a 50 day simple moving average of $36.68 and a two-hundred day simple moving average of $36.09.

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

La-Z-Boy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Thursday, September 3rd were given a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a yield of 3.3%. The ex-dividend date was Thursday, September 3rd. La-Z-Boy's dividend payout ratio (DPR) is presently 49.24%.

Insider Buying and Selling

In other La-Z-Boy news, VP Raphaell Z. Richmond sold 13,671 shares of the business's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $39.83, for a total value of $544,515.93. Following the transaction, the vice president owned 51,695 shares in the company, valued at approximately $2,059,011.85. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Sundy, II sold 5,000 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $30.85, for a total transaction of $154,250.00. Following the sale, the insider owned 59,297 shares of the company's stock, valued at approximately $1,829,312.45. This represents a 7.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 71,542 shares of company stock valued at $2,809,278 over the last quarter. Company insiders own 3.12% of the company's stock.

Hedge Funds Weigh In On La-Z-Boy

Several institutional investors and hedge funds have recently added to or reduced their stakes in LZB. WINTON GROUP Ltd purchased a new position in La-Z-Boy during the 2nd quarter valued at about $3,896,000. Integrated Wealth Concepts LLC purchased a new position in shares of La-Z-Boy during the second quarter valued at approximately $119,000. Squarepoint Ops LLC bought a new stake in shares of La-Z-Boy in the 2nd quarter worth approximately $2,052,000. Allworth Financial LP raised its stake in La-Z-Boy by 47.4% during the second quarter. Allworth Financial LP now owns 2,803 shares of the company's stock valued at $112,000 after buying an additional 902 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of La-Z-Boy in the second quarter worth $534,000. Hedge funds and other institutional investors own 99.62% of the company's stock.

La-Z-Boy Company Profile

La-Z-Boy Incorporated is a residential furniture manufacturer and retailer best known for its upholstered recliners. The company offers a broad range of furniture for living rooms, family rooms, bedrooms and other areas of the home, including recliners, sofas, sectionals, chairs, ottomans, tables, beds and complementary home furnishings.

Founded in 1927 in Monroe, Michigan, La-Z-Boy built its reputation around its reclining chair and has expanded into a full-service home furnishings company.

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