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

Key Points

• La‑Z‑Boy was downgraded by Wall Street Zen from "buy" to "hold" and by Zacks from "strong‑buy" to "hold"; analysts' consensus remains a Moderate Buy with a $39.00 consensus target price.
• La‑Z‑Boy beat Q4 estimates with EPS of $0.61 versus $0.59 and revenue of $541.59M (up 3.8% YoY), and analysts expect $2.61 in EPS for the current fiscal year.
• The stock trades in the mid‑$30s (opened $35.15) with a $1.44B market cap and a P/E of 17.4; an SVP sold 2,200 shares at $37, insiders own 2.66% and institutional investors reportedly own 99.62% of the shares.

La-Z-Boy (NYSE:LZB - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Separately, Zacks Research downgraded La-Z-Boy from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 19th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, La-Z-Boy has an average rating of "Moderate Buy" and a consensus target price of $39.00.

La-Z-Boy Stock Up 1.2%

LZB stock opened at $35.15 on Friday. The business's fifty day moving average is $34.04 and its 200-day moving average is $35.59. The company has a market cap of $1.44 billion, a P/E ratio of 17.40 and a beta of 1.25. La-Z-Boy has a twelve month low of $29.03 and a twelve month high of $44.49.

La-Z-Boy (NYSE:LZB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.02. The company had revenue of $541.59 million for the quarter, compared to the consensus estimate of $535.47 million. La-Z-Boy had a return on equity of 10.79% and a net margin of 3.93%.The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 EPS. Research analysts anticipate that La-Z-Boy will post 2.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Michael Adam Leggett sold 2,200 shares of the firm's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $37.00, for a total transaction of $81,400.00. Following the sale, the senior vice president owned 42,473 shares of the company's stock, valued at approximately $1,571,501. This trade represents a 4.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.66% of the company's stock.

Institutional Trading of La-Z-Boy

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP raised its stake in La-Z-Boy by 4,785.7% during the 4th quarter. Quarry LP now owns 684 shares of the company's stock worth $25,000 after buying an additional 670 shares during the period. Smartleaf Asset Management LLC raised its stake in La-Z-Boy by 75.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 755 shares of the company's stock worth $26,000 after buying an additional 324 shares during the period. EverSource Wealth Advisors LLC raised its stake in La-Z-Boy by 290.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company's stock worth $33,000 after buying an additional 670 shares during the period. Geneos Wealth Management Inc. increased its holdings in La-Z-Boy by 99.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company's stock worth $42,000 after purchasing an additional 567 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in La-Z-Boy by 159.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company's stock worth $43,000 after purchasing an additional 713 shares in the last quarter. Institutional investors and hedge funds own 99.62% of the company's stock.

La-Z-Boy Company Profile

La-Z-Boy Incorporated NYSE: LZB is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.

Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.

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