La-Z-Boy (NYSE:LZB - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Thursday,Zacks.com reports.
A number of other analysts also recently commented on the stock. Weiss Ratings downgraded shares of La-Z-Boy from a "buy (b-)" rating to a "hold (c)" rating in a research report on Thursday. KeyCorp reduced their price target on shares of La-Z-Boy from $46.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Wall Street Zen cut shares of La-Z-Boy from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, La-Z-Boy has a consensus rating of "Hold" and an average target price of $39.50.
Read Our Latest Research Report on LZB
La-Z-Boy Stock Performance
Shares of LZB opened at $33.82 on Thursday. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.08 and a beta of 1.27. La-Z-Boy has a one year low of $29.03 and a one year high of $44.90. The stock's fifty day moving average is $39.73 and its 200-day moving average is $36.85.
La-Z-Boy (NYSE:LZB - Get Free Report) last posted its quarterly earnings data on Tuesday, August 18th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The company had revenue of $475.69 million during the quarter, compared to analyst estimates of $501.44 million. La-Z-Boy had a return on equity of 11.79% and a net margin of 3.86%.The business's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 EPS. Analysts forecast that La-Z-Boy will post 2.84 EPS for the current fiscal year.
Insider Buying and Selling at La-Z-Boy
In other La-Z-Boy news, CEO Melinda D. Whittington sold 26,639 shares of the business's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $40.24, for a total value of $1,071,953.36. Following the sale, the chief executive officer directly owned 316,038 shares in the company, valued at approximately $12,717,369.12. The trade was a 7.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael Adam Leggett sold 9,000 shares of the company's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $41.66, for a total transaction of $374,940.00. Following the completion of the sale, the senior vice president directly owned 47,551 shares of the company's stock, valued at $1,980,974.66. The trade was a 15.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 66,299 shares of company stock valued at $2,677,491. Corporate insiders own 3.12% of the company's stock.
Hedge Funds Weigh In On La-Z-Boy
Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in La-Z-Boy during the second quarter valued at approximately $265,535,000. Franklin Resources Inc. grew its position in La-Z-Boy by 208.8% in the third quarter. Franklin Resources Inc. now owns 1,492,928 shares of the company's stock worth $51,237,000 after buying an additional 1,009,428 shares during the last quarter. William Blair Investment Management LLC acquired a new position in La-Z-Boy in the second quarter worth approximately $19,511,000. Bank of America Corp DE bought a new position in shares of La-Z-Boy in the second quarter valued at $17,346,000. Finally, Bank of New York Mellon Corp bought a new position in shares of La-Z-Boy in the second quarter valued at $17,158,000. Institutional investors and hedge funds own 99.62% of the company's stock.
La-Z-Boy News Roundup
Here are the key news stories impacting La-Z-Boy this week:
- Positive Sentiment: La-Z-Boy’s retail business showed momentum, with retail-segment sales reportedly rising 16% and the company returning $35 million to shareholders. La-Z-Boy Shatters Records: 16% Retail Segment Sales Growth and $35 Million Shareholder Returns
- Positive Sentiment: Management expects second-quarter sales of $500 million to $520 million while investing in supply-chain capacity and retail expansion, signaling confidence in longer-term growth. La-Z-Boy expects Q2 sales of $500M-$520M while investing in supply chain and retail expansion
- Neutral Sentiment: Recent coverage indicates that strong retail performance was offset by weaker wholesale results, highlighting uneven demand across La-Z-Boy’s distribution channels. La-Z-Boy’s retail momentum offset by wholesale numbers in Q1
- Negative Sentiment: Sidoti lowered its FY2027 EPS forecast to $2.55 from $2.66, cut Q2 2027 estimates to $0.48 from $0.73, and reduced Q3 and Q4 estimates to $0.59 and $1.04, respectively. Its Q2 2028 forecast fell to $0.58 from $0.87.
- Negative Sentiment: Sidoti also reduced FY2028 EPS expectations to $3.00 from $3.32. The repeated estimate cuts imply analysts see softer profitability ahead, which is likely weighing on LZB shares.
- Negative Sentiment: La-Z-Boy’s latest reported quarter missed expectations, with EPS of $0.43 versus $0.49 expected and revenue of $475.69 million versus $501.44 million forecast; revenue declined 3.4% year over year.
La-Z-Boy Company Profile
(
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.
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