Leon’s Furniture (TSE:LNF) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Leon’s Furniture Limited (TSE:LNF)’s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$24.80 and traded as high as C$24.90. Leon’s Furniture shares last traded at C$24.73, with a volume of 14,898 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LNF. National Bank Financial reduced their target price on shares of Leon’s Furniture from C$35.00 to C$34.00 and set an “outperform” rating on the stock in a research report on Monday, August 10th. Stifel Nicolaus lowered their price target on Leon’s Furniture from C$27.00 to C$25.50 and set a “hold” rating for the company in a report on Monday, August 10th. Finally, Royal Bank Of Canada dropped their price objective on Leon’s Furniture from C$33.00 to C$32.00 and set an “outperform” rating on the stock in a research note on Monday, August 10th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$30.88.

Leon’s Furniture Stock Performance

The firm’s fifty day moving average price is C$24.48 and its 200 day moving average price is C$24.79. The firm has a market cap of C$1.70 billion, a P/E ratio of 10.74 and a beta of 0.99. The company has a debt-to-equity ratio of 38.38, a quick ratio of 0.53 and a current ratio of 1.59.

Leon’s Furniture (TSE:LNF) last released its quarterly earnings data on Thursday, August 6th. The company reported C$0.51 earnings per share (EPS) for the quarter. The firm had revenue of C$631.29 million for the quarter. Leon’s Furniture had a net margin of 6.22% and a return on equity of 12.76%. Sell-side analysts expect that Leon’s Furniture Limited will post 2.2104466 EPS for the current fiscal year.

About Leon’s Furniture

Leon’s Furniture Ltd is a Canada-based retailer which is involved in the sale of home furnishing, mattresses, appliances, and electronics. The firm is also the country’s commercial retailer of appliances to builders, developers, hotels, and property management companies. It generates maximum revenue from sales of goods by corporate stores.