La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the five research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $42.50.
Several analysts have recently issued reports on LZB shares. Weiss Ratings reissued a "hold (c)" rating on shares of La-Z-Boy in a report on Monday, December 22nd. Wall Street Zen raised La-Z-Boy from a "hold" rating to a "buy" rating in a report on Saturday, March 28th. Finally, Zacks Research lowered La-Z-Boy from a "strong-buy" rating to a "hold" rating in a report on Monday, January 19th.
Read Our Latest Analysis on LZB
La-Z-Boy Stock Performance
LZB opened at $35.99 on Tuesday. The firm has a market cap of $1.47 billion, a P/E ratio of 17.82 and a beta of 1.28. La-Z-Boy has a 52-week low of $29.03 and a 52-week high of $44.49. The business's fifty day moving average is $34.32 and its 200-day moving average is $35.47.
La-Z-Boy (NYSE:LZB - Get Free Report) last released its earnings results on Tuesday, February 17th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.02. The company had revenue of $541.59 million for the quarter, compared to analyst estimates of $535.47 million. La-Z-Boy had a return on equity of 10.79% and a net margin of 3.93%.La-Z-Boy's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. On average, research analysts predict that La-Z-Boy will post 2.61 earnings per share for the current fiscal year.
La-Z-Boy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were issued a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, March 3rd. La-Z-Boy's dividend payout ratio is 48.02%.
Insider Activity
In other news, SVP Michael Adam Leggett sold 2,200 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $37.00, for a total transaction of $81,400.00. Following the sale, the senior vice president directly owned 42,473 shares of the company's stock, valued at approximately $1,571,501. This represents a 4.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.66% of the company's stock.
Institutional Trading of La-Z-Boy
Several large investors have recently bought and sold shares of LZB. Quarry LP boosted its stake in La-Z-Boy by 4,785.7% in the fourth quarter. Quarry LP now owns 684 shares of the company's stock valued at $25,000 after buying an additional 670 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in La-Z-Boy by 75.2% in the third quarter. Smartleaf Asset Management LLC now owns 755 shares of the company's stock valued at $26,000 after buying an additional 324 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in La-Z-Boy by 290.0% in the second quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company's stock valued at $33,000 after buying an additional 670 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in La-Z-Boy by 99.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company's stock valued at $42,000 after buying an additional 567 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in La-Z-Boy by 159.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company's stock valued at $43,000 after buying an additional 713 shares in the last quarter. 99.62% of the stock is owned by institutional investors and hedge funds.
About La-Z-Boy
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider La-Z-Boy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and La-Z-Boy wasn't on the list.
While La-Z-Boy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Click the link to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
