La-Z-Boy Incorporated (NYSE:LZB) Given Consensus Rating of “Buy” by Analysts

La-Z-Boy Incorporated (NYSE:LZB) has been assigned an average rating of “Buy” from the five research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $42.50.

A number of research firms have commented on LZB. Weiss Ratings reaffirmed a “hold (c)” rating on shares of La-Z-Boy in a report on Monday, December 22nd. Needham & Company LLC restated a “buy” rating on shares of La-Z-Boy in a research note on Wednesday, December 17th. Zacks Research raised shares of La-Z-Boy from a “hold” rating to a “strong-buy” rating in a report on Friday, November 21st. Sidoti raised shares of La-Z-Boy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $39.00 in a report on Wednesday, November 19th. Finally, KeyCorp restated an “overweight” rating on shares of La-Z-Boy in a research report on Wednesday, December 17th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LZB. SG Americas Securities LLC grew its stake in La-Z-Boy by 595.1% during the 4th quarter. SG Americas Securities LLC now owns 148,226 shares of the company’s stock worth $5,524,000 after buying an additional 126,903 shares during the last quarter. Cambria Investment Management L.P. increased its stake in shares of La-Z-Boy by 25.0% in the third quarter. Cambria Investment Management L.P. now owns 14,051 shares of the company’s stock valued at $482,000 after purchasing an additional 2,808 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of La-Z-Boy by 3,130.8% during the third quarter. CIBC Private Wealth Group LLC now owns 1,260 shares of the company’s stock valued at $43,000 after buying an additional 1,221 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of La-Z-Boy during the third quarter valued at approximately $616,000. Finally, Morningstar Investment Management LLC acquired a new position in shares of La-Z-Boy during the third quarter worth approximately $1,091,000. Institutional investors and hedge funds own 99.62% of the company’s stock.

La-Z-Boy Price Performance

Shares of LZB stock opened at $39.58 on Friday. The firm has a fifty day moving average of $36.67 and a two-hundred day moving average of $36.08. The firm has a market cap of $1.63 billion, a P/E ratio of 18.16 and a beta of 1.27. La-Z-Boy has a 1-year low of $29.03 and a 1-year high of $48.31.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, November 18th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. The business had revenue of $522.48 million for the quarter, compared to analyst estimates of $517.63 million. La-Z-Boy had a net margin of 4.29% and a return on equity of 11.19%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 EPS. On average, sell-side analysts expect that La-Z-Boy will post 2.99 EPS for the current year.

La-Z-Boy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Thursday, December 4th were issued a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a dividend yield of 2.4%. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, December 4th. La-Z-Boy’s dividend payout ratio is currently 44.04%.

About La-Z-Boy

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.