La-Z-Boy (NYSE:LZB) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of La-Z-Boy (NYSE:LZB - Free Report) from a buy rating to a hold rating in a research report sent to investors on Sunday.

Separately, KeyCorp raised shares of La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 price objective for the company in a research note on Friday, April 25th.

La-Z-Boy Stock Performance

LZB traded down $1.02 on Friday, hitting $37.12. 428,948 shares of the company were exchanged, compared to its average volume of 478,116. The firm has a fifty day simple moving average of $40.58 and a two-hundred day simple moving average of $42.01. The stock has a market capitalization of $1.52 billion, a PE ratio of 18.75 and a beta of 1.31. La-Z-Boy has a 12 month low of $35.18 and a 12 month high of $48.31.

La-Z-Boy (NYSE:LZB - Get Free Report) last released its quarterly earnings data on Tuesday, June 17th. The company reported $0.92 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.01). La-Z-Boy had a net margin of 5.92% and a return on equity of 8.18%. The company had revenue of $570.87 million for the quarter, compared to analysts' expectations of $557.44 million. During the same period last year, the company posted $0.95 EPS. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities analysts expect that La-Z-Boy will post 2.99 earnings per share for the current year.

La-Z-Boy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.37%. La-Z-Boy's dividend payout ratio is currently 44.44%.

Hedge Funds Weigh In On La-Z-Boy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers increased its position in La-Z-Boy by 1.1% during the 4th quarter. Rhumbline Advisers now owns 160,292 shares of the company's stock valued at $6,984,000 after purchasing an additional 1,818 shares during the period. Principal Financial Group Inc. boosted its stake in shares of La-Z-Boy by 3.2% during the 4th quarter. Principal Financial Group Inc. now owns 223,683 shares of the company's stock valued at $9,746,000 after purchasing an additional 6,908 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of La-Z-Boy during the 4th quarter valued at about $51,000. Bank of New York Mellon Corp increased its position in shares of La-Z-Boy by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 471,642 shares of the company's stock valued at $20,549,000 after buying an additional 9,383 shares during the period. Finally, Versor Investments LP raised its stake in La-Z-Boy by 7.7% in the fourth quarter. Versor Investments LP now owns 11,200 shares of the company's stock worth $488,000 after buying an additional 800 shares in the last quarter. Institutional investors own 99.62% of the company's stock.

La-Z-Boy Company Profile

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 Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures, and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, entertainment centers, and occasional pieces.