La-Z-Boy (NYSE:LZB) Upgraded at Sidoti

Sidoti upgraded shares of La-Z-Boy (NYSE:LZB) from a neutral rating to a buy rating in a research note published on Wednesday morning, MarketBeat reports. They currently have $39.00 price target on the stock, up from their previous price target of $36.00.

Several other research analysts have also weighed in on LZB. Weiss Ratings reaffirmed a “hold (c)” rating on shares of La-Z-Boy in a research report on Wednesday, October 8th. Zacks Research upgraded shares of La-Z-Boy from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $42.50.

La-Z-Boy Stock Up 3.7%

Shares of NYSE LZB opened at $37.72 on Wednesday. La-Z-Boy has a 52-week low of $29.03 and a 52-week high of $48.31. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 17.22 and a beta of 1.26. The stock’s fifty day simple moving average is $32.85 and its 200 day simple moving average is $36.72.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, November 18th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.17. The company had revenue of $522.48 million for the quarter, compared to the consensus estimate of $517.63 million. La-Z-Boy had a net margin of 4.35% and a return on equity of 11.34%. The company’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS. La-Z-Boy has set its Q3 2026 guidance at EPS. As a group, analysts anticipate that La-Z-Boy will post 2.99 earnings per share for the current year.

La-Z-Boy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Thursday, December 4th will be given a $0.242 dividend. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.22. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, December 4th. La-Z-Boy’s payout ratio is presently 44.04%.

Insider Activity at La-Z-Boy

In other news, Director Janet Kerr sold 3,372 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $35.70, for a total value of $120,380.40. Following the completion of the transaction, the director owned 3,653 shares in the company, valued at $130,412.10. This trade represents a 48.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On La-Z-Boy

Hedge funds have recently bought and sold shares of the company. CIBC Bancorp USA Inc. acquired a new position in shares of La-Z-Boy during the 3rd quarter worth approximately $616,000. Morningstar Investment Management LLC acquired a new position in La-Z-Boy in the 3rd quarter valued at $1,091,000. Verity Asset Management Inc. bought a new position in La-Z-Boy during the 3rd quarter worth $355,000. Millennium Management LLC increased its position in La-Z-Boy by 361.4% during the 3rd quarter. Millennium Management LLC now owns 53,090 shares of the company’s stock worth $1,822,000 after buying an additional 41,583 shares during the period. Finally, Lido Advisors LLC acquired a new stake in La-Z-Boy in the 3rd quarter worth about $266,000. 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.