La-Z-Boy (NYSE:LZB) Hits New 12-Month Low - Should You Sell?

Key Points

• La-Z-Boy reached a new 12-month low of $31.89 during trading, closing at $31.99, representing a significant drop in stock value.
• Analysts have a mixed outlook on La-Z-Boy, with Zacks Research downgrading the stock to a "strong sell" and a consensus price target of $46.00.
• The company reported quarterly earnings of $0.47 EPS, missing estimates and showing a revenue decline of 0.7% year-over-year.

La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $31.89 and last traded at $31.99, with a volume of 54877 shares changing hands. The stock had previously closed at $32.35.

Wall Street Analysts Forecast Growth

LZB has been the topic of a number of research analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of La-Z-Boy in a research report on Wednesday. Zacks Research lowered La-Z-Boy from a "hold" rating to a "strong sell" rating in a research report on Friday, August 22nd. Finally, Wall Street Zen lowered La-Z-Boy from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $46.00.

La-Z-Boy Price Performance

The company's 50 day simple moving average is $35.48 and its 200 day simple moving average is $38.12. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 14.47 and a beta of 1.23.

La-Z-Boy (NYSE:LZB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.06). The business had revenue of $492.23 million during the quarter, compared to analyst estimates of $502.56 million. La-Z-Boy had a return on equity of 11.34% and a net margin of 4.35%.The business's revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 EPS. La-Z-Boy has set its Q2 2026 guidance at EPS. As a group, analysts forecast that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

La-Z-Boy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, September 4th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. La-Z-Boy's payout ratio is presently 40.18%.

Insider Activity at La-Z-Boy

In related news, Director Janet Kerr sold 3,372 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $35.70, for a total transaction of $120,380.40. Following the completion of the transaction, the director owned 3,653 shares in the company, valued at approximately $130,412.10. The trade was a 48.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.66% of the company's stock.

Hedge Funds Weigh In On La-Z-Boy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. grew its stake in shares of La-Z-Boy by 3.5% during the second quarter. Osaic Holdings Inc. now owns 9,258 shares of the company's stock worth $344,000 after purchasing an additional 310 shares in the last quarter. Orion Porfolio Solutions LLC boosted its stake in La-Z-Boy by 2.5% in the second quarter. Orion Porfolio Solutions LLC now owns 26,635 shares of the company's stock valued at $990,000 after acquiring an additional 646 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 acquiring an additional 567 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in La-Z-Boy by 2.9% in the second quarter. Public Sector Pension Investment Board now owns 155,795 shares of the company's stock valued at $5,791,000 after acquiring an additional 4,380 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in La-Z-Boy by 314.2% in the second quarter. Tower Research Capital LLC TRC now owns 4,461 shares of the company's stock valued at $166,000 after acquiring an additional 3,384 shares in the last quarter. Institutional investors and hedge funds own 99.62% of the company's stock.

About La-Z-Boy

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures, and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, entertainment centers, and occasional pieces.

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