Leon's Furniture (TSE:LNF) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Leon's Furniture shares have crossed above their 200-day moving average, indicating a potential positive trend, with the stock trading at C$27.93 after hitting a high of C$28.01.
• BMO Capital Markets has raised their price target for the company from C$28.00 to C$29.00, reflecting a consensus rating of "Moderate Buy" with a price target of C$30.00.
• Insider activity includes Senior Officer John Andrew Cooney selling 4,000 shares at an average price of C$27.51, and insiders collectively own 69.49% of the stock.

Leon's Furniture Limited (TSE:LNF - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$25.29 and traded as high as C$28.01. Leon's Furniture shares last traded at C$27.93, with a volume of 20,301 shares changing hands.

Analyst Ratings Changes

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

Leon's Furniture Price Performance

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 market capitalization of C$1.87 billion, a P/E ratio of 14.14 and a beta of 0.82. The company has a 50 day moving average of C$27.64 and a 200-day moving average of C$25.34.

Insider Transactions at Leon's Furniture

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