La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) shares hit a new 52-week low on Friday . The stock traded as low as $35.16 and last traded at $35.32, with a volume of 17996 shares trading hands. The stock had previously closed at $35.97.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. KeyCorp raised shares of La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 target price on the stock in a research note on Friday, April 25th. Wall Street Zen cut shares of La-Z-Boy from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd.
Get Our Latest Stock Analysis on LZB
La-Z-Boy Price Performance
The stock's fifty day moving average price is $39.30 and its 200 day moving average price is $41.05. The stock has a market capitalization of $1.45 billion, a P/E ratio of 14.92 and a beta of 1.26.
La-Z-Boy (NYSE:LZB - Get Free Report) last posted its quarterly earnings results on Tuesday, June 17th. The company reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.01). The company had revenue of $570.87 million during the quarter, compared to the consensus estimate of $557.44 million. La-Z-Boy had a return on equity of 12.08% and a net margin of 4.72%. The company's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.95 earnings per share. On average, sell-side analysts expect that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in LZB. GAMMA Investing LLC grew its holdings in La-Z-Boy by 116.9% during the 2nd quarter. GAMMA Investing LLC now owns 746 shares of the company's stock worth $28,000 after acquiring an additional 402 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of La-Z-Boy by 22.8% in the 1st quarter. TD Private Client Wealth LLC now owns 1,355 shares of the company's stock valued at $53,000 after buying an additional 252 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of La-Z-Boy by 317.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company's stock valued at $71,000 after buying an additional 1,382 shares in the last quarter. Johnson Financial Group Inc. boosted its holdings in shares of La-Z-Boy by 2,394.1% in the 4th quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company's stock valued at $80,000 after buying an additional 1,628 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of La-Z-Boy in the 1st quarter valued at about $201,000. 99.62% of the stock is currently owned by institutional investors.
About La-Z-Boy
(
Get Free Report)
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.
Further Reading
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