La-Z-Boy (NYSE:LZB) Upgraded to Buy at Wall Street Zen

La-Z-Boy (NYSE:LZB - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

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

La-Z-Boy Stock Down 0.4%

Shares of La-Z-Boy stock traded down $0.17 during trading hours on Friday, hitting $38.75. 1,102,397 shares of the company's stock traded hands, compared to its average volume of 489,902. The stock has a 50 day simple moving average of $40.62 and a 200-day simple moving average of $42.26. The company has a market cap of $1.60 billion, a PE ratio of 13.32 and a beta of 1.31. La-Z-Boy has a twelve month low of $35.18 and a twelve month high of $48.31.

La-Z-Boy (NYSE:LZB - Get Free Report) last announced its earnings results on Tuesday, June 17th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.01). La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.95 EPS. As a group, equities research analysts predict that La-Z-Boy will post 2.99 EPS for the current year.

Hedge Funds Weigh In On La-Z-Boy

A number of hedge funds have recently bought and sold shares of LZB. Allspring Global Investments Holdings LLC grew its stake in La-Z-Boy by 67.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 143,949 shares of the company's stock worth $6,272,000 after purchasing an additional 58,146 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in La-Z-Boy by 1.5% in the fourth quarter. New York State Teachers Retirement System now owns 82,073 shares of the company's stock worth $3,576,000 after acquiring an additional 1,247 shares during the last quarter. Rhumbline Advisers lifted its holdings in La-Z-Boy by 1.1% in the fourth quarter. Rhumbline Advisers now owns 160,292 shares of the company's stock worth $6,984,000 after acquiring an additional 1,818 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in La-Z-Boy by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 223,683 shares of the company's stock worth $9,746,000 after acquiring an additional 6,908 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new position in La-Z-Boy in the fourth quarter worth about $51,000. 99.62% of the stock is currently owned by institutional investors and hedge funds.

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.