Leon's Furniture (TSE:LNF) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• Leon's Furniture shares surpassed their 200-day moving average of C$25.80, reaching a high of C$30.80 during trading, with the last recorded price at C$30.48.
• Several analysts have raised their target prices for Leon's Furniture, with National Bankshares and Royal Bank of Canada both setting targets at C$35.00 and a consensus target of C$32.20, indicating a Moderate Buy rating.
• The company has seen significant insider activity, with Senior Officer John Andrew Cooney selling 4,000 shares at an average price of C$27.51, while insiders own 69.49% of the stock.

Leon's Furniture Limited (TSE:LNF - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$25.80 and traded as high as C$30.80. Leon's Furniture shares last traded at C$30.48, with a volume of 37,897 shares traded.

Analysts Set New Price Targets

Several analysts have recently weighed in on LNF shares. National Bankshares lifted their target price on Leon's Furniture from C$34.00 to C$35.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Royal Bank Of Canada lifted their target price on Leon's Furniture from C$33.00 to C$35.00 and gave the stock an "outperform" rating in a research report on Monday, August 11th. BMO Capital Markets lifted their price objective on Leon's Furniture from C$29.00 to C$32.00 and gave the company a "market perform" rating in a report on Friday, August 8th. Finally, Stifel Nicolaus lifted their price objective on Leon's Furniture from C$27.00 to C$30.00 and gave the company a "hold" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$32.20.

Leon's Furniture Price Performance

The firm has a market cap of C$2.07 billion, a PE ratio of 15.64 and a beta of 0.82. The company has a quick ratio of 0.53, a current ratio of 1.38 and a debt-to-equity ratio of 38.14. The stock has a 50 day moving average price of C$28.13 and a two-hundred day moving average price of C$25.86.

Insider Buying and Selling at Leon's Furniture

In other news, Senior Officer John Andrew Cooney sold 4,000 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of C$27.51, for a total transaction of C$110,040.00. Insiders own 69.49% of the company's stock.

Leon's Furniture Company Profile

Leon's Furniture Ltd is a Canada-based retailer which is involved in the sale of home furnishing, mattresses, appliances, and electronics. The firm is also the country's commercial retailer of appliances to builders, developers, hotels, and property management companies. It generates maximum revenue from sales of goods by corporate stores.