La-Z-Boy Incorporated (NYSE:LZB – Get Free Report) VP Raphaell Richmond sold 13,671 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $39.83, for a total transaction of $544,515.93. Following the sale, the vice president directly owned 51,695 shares in the company, valued at $2,059,011.85. This trade represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
La-Z-Boy Trading Up 0.4%
Shares of La-Z-Boy stock opened at $40.11 on Wednesday. The business has a 50-day moving average price of $37.02 and a two-hundred day moving average price of $36.47. La-Z-Boy Incorporated has a 1-year low of $29.03 and a 1-year high of $44.90. The company has a market cap of $1.60 billion, a P/E ratio of 16.24, a PEG ratio of 1.22 and a beta of 1.26.
La-Z-Boy (NYSE:LZB – Get Free Report) last announced its quarterly earnings data on Tuesday, June 16th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.44. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.The company had revenue of $570.34 million for the quarter, compared to the consensus estimate of $569.23 million. During the same period in the previous year, the business earned $0.36 EPS. The firm’s revenue was down .1% compared to the same quarter last year. Equities research analysts forecast that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.
La-Z-Boy Announces Dividend
Wall Street Analyst Weigh In
Several brokerages have recently commented on LZB. Wall Street Zen downgraded shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings upgraded shares of La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.00.
Check Out Our Latest Stock Report on LZB
Hedge Funds Weigh In On La-Z-Boy
A number of large investors have recently modified their holdings of LZB. Quarry LP grew its position in La-Z-Boy by 4,785.7% in the 4th quarter. Quarry LP now owns 684 shares of the company’s stock valued at $25,000 after purchasing an additional 670 shares during the period. EverSource Wealth Advisors LLC raised its holdings in La-Z-Boy by 290.0% during the second quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock worth $33,000 after buying an additional 670 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of La-Z-Boy by 99.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock valued at $42,000 after buying an additional 567 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of La-Z-Boy by 159.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock valued at $43,000 after buying an additional 713 shares in the last quarter. Finally, TD Private Client Wealth LLC acquired a new position in shares of La-Z-Boy during the fourth quarter valued at about $45,000. 99.62% of the stock is currently owned by institutional investors.
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.
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