La-Z-Boy’s (LZB) “Buy” Rating Reaffirmed at KeyCorp
La-Z-Boy Inc. (NYSE:LZB)‘s stock had its “buy” rating reaffirmed by KeyCorp in a report released on Monday. They currently have a $28.00 target price on the stock. KeyCorp’s price target points to a potential upside of 12.95% from the stock’s previous close.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research raised La-Z-Boy from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Friday, June 24th. Longbow Research began coverage on La-Z-Boy in a research report on Friday, August 5th. They set a “neutral” rating for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. La-Z-Boy has a consensus rating of “Hold” and an average price target of $30.33.
Shares of La-Z-Boy (NYSE:LZB) opened at 24.79 on Monday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 15.86 and a beta of 1.27. La-Z-Boy has a 52 week low of $19.56 and a 52 week high of $31.22. The firm’s 50-day moving average price is $26.28 and its 200-day moving average price is $27.02.
La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. The firm had revenue of $340.80 million for the quarter, compared to analyst estimates of $358.79 million. La-Z-Boy had a net margin of 5.21% and a return on equity of 15.01%. La-Z-Boy’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS. Equities research analysts expect that La-Z-Boy will post $1.71 EPS for the current fiscal year.
In other La-Z-Boy news, insider Otis S. Sawyer sold 5,935 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $27.46, for a total value of $162,975.10. Following the completion of the sale, the insider now owns 62,216 shares of the company’s stock, valued at $1,708,451.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Douglas Collier sold 26,874 shares of the business’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $26.17, for a total value of $703,292.58. Following the completion of the sale, the insider now directly owns 98,849 shares of the company’s stock, valued at approximately $2,586,878.33. The disclosure for this sale can be found here. 3.57% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in LZB. Mason Street Advisors LLC bought a new stake in shares of La-Z-Boy during the second quarter worth $271,000. Schwab Charles Investment Management Inc. boosted its position in La-Z-Boy by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 262,080 shares of the company’s stock valued at $7,292,000 after buying an additional 10,476 shares in the last quarter. Walthausen & Co. LLC boosted its position in La-Z-Boy by 0.3% in the second quarter. Walthausen & Co. LLC now owns 279,830 shares of the company’s stock valued at $7,785,000 after buying an additional 770 shares in the last quarter. Fiera Capital Corp acquired a new position in La-Z-Boy during the second quarter valued at $14,956,000. Finally, Numeric Investors LLC boosted its position in La-Z-Boy by 158.7% in the second quarter. Numeric Investors LLC now owns 145,798 shares of the company’s stock valued at $4,056,000 after buying an additional 89,440 shares in the last quarter. 86.05% of the stock is owned by institutional investors.
La-Z-Boy Company Profile
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.
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