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

Key Points

• Leon's Furniture shares have exceeded their 200-day moving average of C$25.40, trading as high as C$27.78 before closing at C$27.71.
• BMO Capital Markets raised their price target for the company from C$28.00 to C$29.00, indicating a generally positive outlook with an average target of C$30.00 among analysts.
• Corporate insiders own 69.49% of the stock, and a senior officer recently sold 4,000 shares at an average price of C$27.51.

Leon's Furniture Limited (TSE:LNF - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$25.40 and traded as high as C$27.78. Leon's Furniture shares last traded at C$27.71, with a volume of 14,042 shares.

Analyst Ratings Changes

Separately, BMO Capital Markets upped their price target on shares of Leon's Furniture from C$28.00 to C$29.00 in a report on Monday, May 12th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Leon's Furniture currently has an average rating of "Moderate Buy" and a consensus price target of C$30.00.

Leon's Furniture Trading Up 0.1%

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 company has a market cap of C$1.94 billion, a P/E ratio of 14.70 and a beta of 0.82. The firm's 50 day moving average is C$27.68 and its two-hundred day moving average is C$25.44.

Insider Buying and Selling at Leon's Furniture

In related news, Senior Officer John Andrew Cooney sold 4,000 shares of the business's stock in a transaction on Monday, June 30th. The shares were sold at an average price of C$27.51, for a total value of C$110,040.00. 69.49% of the stock is currently owned by corporate insiders.

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.