Wall Street Zen Downgrades La-Z-Boy (NYSE:LZB) to Hold

La-Z-Boy (NYSE:LZB - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released 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 target on the stock in a report on Friday, April 25th.

La-Z-Boy Stock Down 0.5%

Shares of NYSE LZB opened at $38.07 on Friday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 19.23 and a beta of 1.31. The firm has a 50-day moving average price of $40.59 and a 200 day moving average price of $42.10. La-Z-Boy has a 52 week low of $35.18 and a 52 week high of $48.31.

La-Z-Boy (NYSE:LZB - Get Free Report) last posted 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 firm had revenue of $570.87 million during the quarter, compared to analyst estimates of $557.44 million. During the same period in the prior year, the firm earned $0.95 EPS. The business's quarterly revenue was up 3.1% on a year-over-year basis. Equities research analysts expect that La-Z-Boy will post 2.99 EPS for the current fiscal year.

Hedge Funds Weigh In On La-Z-Boy

Large investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its position in shares of La-Z-Boy by 9.0% in the first quarter. Rhumbline Advisers now owns 174,735 shares of the company's stock worth $6,830,000 after purchasing an additional 14,443 shares in the last quarter. Strs Ohio acquired a new position in La-Z-Boy in the first quarter worth approximately $579,000. Intech Investment Management LLC increased its holdings in La-Z-Boy by 101.4% in the first quarter. Intech Investment Management LLC now owns 77,806 shares of the company's stock worth $3,041,000 after buying an additional 39,170 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in La-Z-Boy by 3.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,836 shares of the company's stock valued at $971,000 after purchasing an additional 769 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in La-Z-Boy during the first quarter valued at approximately $10,806,000. 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.

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