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

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) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 trading hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LNF. Stifel Nicolaus raised their price objective on Leon's Furniture from C$27.00 to C$30.00 and gave the company a "hold" rating in a research note on Friday. BMO Capital Markets raised 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 research note on Friday. Finally, National Bankshares raised their price objective on Leon's Furniture from C$34.00 to C$35.00 and gave the company an "outperform" rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Leon's Furniture currently has an average rating of "Moderate Buy" and a consensus target price of C$31.83.

Leon's Furniture Stock Up 5.8%

The firm has a 50 day simple moving average of C$27.72 and a two-hundred day simple moving average of C$25.47. The company has a debt-to-equity ratio of 38.14, a quick ratio of 0.53 and a current ratio of 1.38. The stock has a market cap of C$2.05 billion, a P/E ratio of 15.55 and a beta of 0.82.

Insiders Place Their Bets

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

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.