La-Z-Boy (NYSE:LZB) Shares Gap Up - What's Next?

Key Points

• La-Z-Boy shares experienced a significant gap up, opening at $35.08 after closing at $33.95, with the last traded price at $34.55 and a trading volume of 79,464 shares.
• Analysts have recently downgraded La-Z-Boy from a "buy" rating to a "hold" and then to a "strong sell," with a consensus rating of "Hold" and an average price target of $46.00.
• The company announced a quarterly dividend of $0.22 per share, reflecting a 2.5% yield and a payout ratio of 40.18%.

Shares of La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $33.95, but opened at $35.08. La-Z-Boy shares last traded at $34.55, with a volume of 79,464 shares.

Analysts Set New Price Targets

LZB has been the topic of several analyst reports. Wall Street Zen downgraded La-Z-Boy from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Zacks Research downgraded La-Z-Boy from a "hold" rating to a "strong sell" rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $46.00.

La-Z-Boy Trading Up 2.2%

The firm has a fifty day simple moving average of $36.26 and a 200 day simple moving average of $38.48. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 15.81 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 firm had revenue of $492.23 million during the quarter, compared to analyst estimates of $502.56 million. La-Z-Boy had a net margin of 4.35% and a return on equity of 11.34%. The company's revenue was down .7% on a year-over-year basis. During the same period last year, the company earned $0.62 EPS. La-Z-Boy has set its Q2 2026 guidance at EPS. On average, equities analysts expect that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, September 4th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.5%. La-Z-Boy's dividend payout ratio is presently 40.18%.

Insider Activity

In other news, Director Janet Kerr sold 3,372 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $35.70, for a total value of $120,380.40. Following the completion of the transaction, the director directly owned 3,653 shares of the company's stock, valued at approximately $130,412.10. This represents a 48.00% decrease in their position. The sale was disclosed in a filing 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 hedge funds have recently modified their holdings of the stock. TD Private Client Wealth LLC increased its holdings in La-Z-Boy by 22.8% during the 1st quarter. TD Private Client Wealth LLC now owns 1,355 shares of the company's stock valued at $53,000 after purchasing an additional 252 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of La-Z-Boy by 0.6% during the second quarter. Allianz Asset Management GmbH now owns 45,430 shares of the company's stock worth $1,689,000 after purchasing an additional 266 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of La-Z-Boy by 3.3% in the second quarter. Advisors Asset Management Inc. now owns 8,675 shares of the company's stock valued at $322,000 after purchasing an additional 274 shares in the last quarter. PFG Advisors increased its position in shares of La-Z-Boy by 2.6% in the first quarter. PFG Advisors now owns 11,797 shares of the company's stock valued at $461,000 after acquiring an additional 298 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of La-Z-Boy by 4.8% in the second quarter. Bank of Montreal Can now owns 6,564 shares of the company's stock valued at $244,000 after acquiring an additional 300 shares during the last quarter. 99.62% of the stock is owned by institutional investors and hedge funds.

La-Z-Boy Company Profile

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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