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, and entertainment centers. This segment sells its products directly to La-Z-Boy Furniture Galleries stores, operators of La-Z-Boy Comfort Studio locations, England Custom Comfort Center locations, dealers, and other independent retailers. The company's Retail segment sells upholstered furniture, casegoods, and other accessories to the end consumer through its retail network. This segment operates a network of 161 company-owned La-Z-Boy Furniture Galleries stores. La-Z-Boy Incorporated also produces reclining chairs; and manufactures and distributes residential furniture. Its Corporate and Other segment sells the products through its website. The company was formerly known as La-Z-Boy Chair Company and changed its name to La-Z-Boy Incorporated in 1996. La-Z-Boy Incorporated was founded in 1927 and is based in Monroe, Michigan.
Analysts Set New Price Targets
LZB has been the subject of a number of recent research reports. Raymond James reissued an "outperform" rating and issued a $32.00 target price (down from $40.00) on shares of La-Z-Boy in a report on Friday, June 24th. StockNews.com upgraded La-Z-Boy from a "hold" rating to a "buy" rating in a research report on Wednesday, May 11th.
La-Z-Boy Price Performance
Shares of LZB traded up $0.81 during midday trading on Friday, hitting $29.78. The stock had a trading volume of 288,433 shares, compared to its average volume of 359,864. The company has a 50 day simple moving average of $25.89 and a two-hundred day simple moving average of $27.61. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 8.73 and a beta of 1.03. La-Z-Boy has a twelve month low of $22.21 and a twelve month high of $39.99.
La-Z-Boy (NYSE:LZB - Get Rating) last posted its quarterly earnings results on Tuesday, June 21st. The company reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.14. La-Z-Boy had a return on equity of 17.59% and a net margin of 6.37%. The business had revenue of $684.57 million during the quarter, compared to analysts' expectations of $668.85 million. Analysts forecast that La-Z-Boy will post 3.13 EPS for the current fiscal year.