Leon's Furniture (TSE:LNF) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Leon's Furniture's shares have recently crossed above their 200-day moving average, trading as high as C$28.65 and closing at C$28.01 with a significant volume of 19,592 shares.
• Equity analysts have raised their target prices for Leon's Furniture, with Royal Bank of Canada increasing theirs from C$33.00 to C$35.00, while the average target price now stands at C$32.20.
• Insider Darci Marie Walker sold 1,100 shares at C$29.00, reducing her ownership stake by 2.66%, while insiders collectively own 69.49% of the company’s stock.

Leon's Furniture Limited (TSE:LNF - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$26.97 and traded as high as C$28.65. Leon's Furniture shares last traded at C$28.01, with a volume of 19,592 shares traded.

Analyst Upgrades and Downgrades

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

Leon's Furniture Stock Performance

The stock's 50-day simple moving average is C$29.21 and its 200 day simple moving average is C$26.97. The stock has a market capitalization of C$1.91 billion, a P/E ratio of 11.97 and a beta of 0.80. The company has a debt-to-equity ratio of 38.14, a current ratio of 1.38 and a quick ratio of 0.53.

Insider Activity

In other news, insider Darci Marie Walker sold 1,100 shares of the business's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of C$29.00, for a total value of C$31,900.00. Following the completion of the sale, the insider owned 40,329 shares of the company's stock, valued at approximately C$1,169,541. The trade was a 2.66% decrease in their ownership of the stock. Insiders own 69.49% of the company's stock.

About Leon's Furniture

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.