La-Z-Boy (NYSE:LZB) was downgraded by equities researchers at ValuEngine from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Monday, ValuEngine reports.
LZB has been the topic of a number of other reports. Sidoti raised shares of La-Z-Boy from a "neutral" rating to a "buy" rating and set a $45.00 price objective on the stock in a research note on Monday, October 19th. Raymond James raised their price target on shares of La-Z-Boy from $37.00 to $46.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Zacks Investment Research raised shares of La-Z-Boy from a "hold" rating to a "buy" rating and set a $44.00 price target on the stock in a research note on Saturday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of "Hold" and a consensus target price of $43.00.
NYSE LZB traded down $0.54 during trading hours on Monday, reaching $38.78. The company's stock had a trading volume of 480,354 shares, compared to its average volume of 375,314. The stock has a market cap of $1.79 billion, a PE ratio of 28.31 and a beta of 1.20. La-Z-Boy has a fifty-two week low of $15.61 and a fifty-two week high of $42.69. The company's 50-day moving average is $35.69 and its two-hundred day moving average is $30.49.
La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Monday, November 16th. The company reported $0.82 EPS for the quarter, beating the Zacks' consensus estimate of $0.50 by $0.32. La-Z-Boy had a net margin of 4.07% and a return on equity of 12.42%. As a group, equities research analysts forecast that La-Z-Boy will post 2.13 earnings per share for the current year.
In other news, COO Darrell Dewain Edwards sold 96,119 shares of the stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $37.04, for a total transaction of $3,560,247.76. Also, SVP Otis S. Sawyer sold 49,546 shares of the stock in a transaction dated Thursday, November 19th. The stock was sold at an average price of $39.45, for a total transaction of $1,954,589.70. Following the transaction, the senior vice president now owns 80,985 shares in the company, valued at $3,194,858.25. The disclosure for this sale can be found here. Insiders have sold a total of 357,565 shares of company stock worth $13,696,745 over the last ninety days. 4.20% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Paloma Partners Management Co lifted its holdings in shares of La-Z-Boy by 26.7% during the 3rd quarter. Paloma Partners Management Co now owns 25,987 shares of the company's stock worth $823,000 after acquiring an additional 5,476 shares during the period. Cubist Systematic Strategies LLC raised its holdings in La-Z-Boy by 69.1% in the third quarter. Cubist Systematic Strategies LLC now owns 66,667 shares of the company's stock valued at $2,109,000 after buying an additional 27,243 shares during the period. Point72 Asset Management L.P. purchased a new position in La-Z-Boy in the third quarter valued at approximately $503,000. Squarepoint Ops LLC raised its holdings in La-Z-Boy by 76.5% in the third quarter. Squarepoint Ops LLC now owns 60,591 shares of the company's stock valued at $1,916,000 after buying an additional 26,255 shares during the period. Finally, Weld Capital Management LLC raised its holdings in La-Z-Boy by 139.7% in the third quarter. Weld Capital Management LLC now owns 18,801 shares of the company's stock valued at $595,000 after buying an additional 10,959 shares during the period. Institutional investors and hedge funds own 90.60% of the company's stock.
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.
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