La-Z-Boy (NYSE:LZB) Raised to “Buy” at StockNews.com
La-Z-Boy (NYSE:LZB – Get Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
La-Z-Boy Price Performance
La-Z-Boy stock traded down $0.23 during mid-day trading on Thursday, reaching $35.99. 403,259 shares of the stock traded hands, compared to its average volume of 378,089. The stock has a market capitalization of $1.54 billion, a PE ratio of 12.90 and a beta of 1.13. La-Z-Boy has a 12-month low of $22.65 and a 12-month high of $36.82. The business’s 50-day moving average is $30.83 and its 200-day moving average is $30.15.
La-Z-Boy (NYSE:LZB – Get Free Report) last posted its quarterly earnings data on Thursday, November 30th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. The company had revenue of $511.40 million during the quarter, compared to analysts’ expectations of $502.33 million. La-Z-Boy had a return on equity of 14.87% and a net margin of 5.68%. La-Z-Boy’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 earnings per share. Equities analysts anticipate that La-Z-Boy will post 2.88 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Janet Kerr sold 4,582 shares of the stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $30.86, for a total transaction of $141,400.52. Following the completion of the sale, the director now owns 3,890 shares in the company, valued at $120,045.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by company insiders.
Institutional Trading of La-Z-Boy
Several institutional investors have recently made changes to their positions in LZB. McIlrath & Eck LLC grew its holdings in La-Z-Boy by 16.1% during the 2nd quarter. McIlrath & Eck LLC now owns 2,561 shares of the company’s stock valued at $73,000 after buying an additional 355 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in La-Z-Boy by 11.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,588 shares of the company’s stock valued at $103,000 after buying an additional 364 shares in the last quarter. Captrust Financial Advisors grew its holdings in La-Z-Boy by 13.4% during the 2nd quarter. Captrust Financial Advisors now owns 3,730 shares of the company’s stock valued at $88,000 after buying an additional 440 shares in the last quarter. Cardinal Capital Management grew its holdings in La-Z-Boy by 1.5% during the 2nd quarter. Cardinal Capital Management now owns 29,016 shares of the company’s stock valued at $831,000 after buying an additional 441 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in La-Z-Boy by 1.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,107 shares of the company’s stock valued at $690,000 after buying an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.
La-Z-Boy Company Profile (Get Free Report)
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.
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Original: MarketBeat News Feed: La-Z-Boy (NYSE:LZB) Raised to “Buy” at StockNews.com