Leon’s Furniture (TSE:LNF) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of Leon’s Furniture Limited (TSE:LNF) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$24.80 and traded as high as C$26.75. Leon’s Furniture shares last traded at C$26.47, with a volume of 13,206 shares traded.

Wall Street Analyst Weigh In

LNF has been the subject of several analyst reports. National Bank Financial decreased their price objective on shares of Leon’s Furniture from C$35.00 to C$34.00 and set an “outperform” rating for the company in a research note on Monday, August 10th. Stifel Nicolaus cut their target price on Leon’s Furniture from C$27.00 to C$25.50 and set a “hold” rating on the stock in a research note on Monday, August 10th. Finally, Royal Bank Of Canada cut their target price 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 investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$30.88.

Leon’s Furniture Price Performance

The stock has a market cap of C$1.80 billion, a P/E ratio of 11.40 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. The business has a 50 day simple moving average of C$24.80 and a 200-day simple moving average of C$24.81.

Leon’s Furniture (TSE:LNF) last released its earnings results on Thursday, August 6th. The company reported C$0.51 EPS for the quarter. The company had revenue of C$631.29 million for the quarter. Leon’s Furniture had a return on equity of 12.76% and a net margin of 6.22%. On average, sell-side analysts forecast that Leon’s Furniture Limited will post 2.21 EPS for the current year.

Leon’s Furniture Company Profile

Leon’s Furniture Limited is the largest retailer of furniture, appliances and electronics in Canada. Our retail banners include: Leon’s; The Brick; Brick Outlet; and The Brick Mattress Store. Finally, with The Brick’s Midnorthern Appliance banner alongside with Leon’s Appliance Canada banner, this makes the Company the country’s largest commercial retailer of appliances to builders, developers, hotels and property management companies. The Company has 301 retail stores from coast to coast in Canada under various banners.