La-Z-Boy (NYSE:LZB – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
Separately, Zacks Research downgraded shares of La-Z-Boy from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.
Check Out Our Latest Stock Analysis on La-Z-Boy
La-Z-Boy Stock Up 0.0%
La-Z-Boy (NYSE:LZB – Get Free Report) last posted its earnings results on Tuesday, February 17th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.02. The firm had revenue of $541.59 million during the quarter, compared to the consensus estimate of $535.47 million. La-Z-Boy had a net margin of 3.93% and a return on equity of 10.79%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $0.68 earnings per share. On average, sell-side analysts expect that La-Z-Boy will post 2.61 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, SVP Michael Adam Leggett sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $37.00, for a total transaction of $81,400.00. Following the completion of the transaction, the senior vice president owned 42,473 shares of the company’s stock, valued at approximately $1,571,501. The trade was a 4.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.66% of the company’s stock.
Hedge Funds Weigh In On La-Z-Boy
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in La-Z-Boy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company’s stock valued at $179,422,000 after acquiring an additional 38,513 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in La-Z-Boy by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,655,385 shares of the company’s stock valued at $98,968,000 after acquiring an additional 6,901 shares in the last quarter. Franklin Resources Inc. grew its stake in La-Z-Boy by 24.0% during the fourth quarter. Franklin Resources Inc. now owns 1,851,873 shares of the company’s stock valued at $69,019,000 after acquiring an additional 358,945 shares in the last quarter. LSV Asset Management grew its stake in La-Z-Boy by 0.8% during the fourth quarter. LSV Asset Management now owns 1,476,882 shares of the company’s stock valued at $55,043,000 after acquiring an additional 11,983 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in La-Z-Boy by 7.2% during the third quarter. American Century Companies Inc. now owns 1,434,642 shares of the company’s stock valued at $49,237,000 after acquiring an additional 95,737 shares in the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.
La-Z-Boy Company Profile
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.
Featured Stories
Receive News & Ratings for La-Z-Boy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La-Z-Boy and related companies with MarketBeat.com's FREE daily email newsletter.
