La-Z-Boy Inc. (LZB) Sets New 52-Week High at $29.95
La-Z-Boy Inc. (NYSE:LZB) shares reached a new 52-week high on Tuesday . The stock traded as high as $29.95 and last traded at $29.76, with a volume of 192,856 shares. The stock had previously closed at $29.55.
Separately, Zacks Investment Research upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Wednesday, March 23rd.
The company has a market capitalization of $1.46 billion and a price-to-earnings ratio of 19.25. The company has a 50 day moving average of $27.46 and a 200 day moving average of $25.19.
La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, June 21st. The company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.03. During the same quarter last year, the firm earned $0.38 EPS. The company had revenue of $417.07 million for the quarter. The business’s revenue was up 11.2% compared to the same quarter last year. On average, analysts forecast that La-Z-Boy Inc. will post $1.76 earnings per share for the current fiscal year.
In other La-Z-Boy news, CFO Louis M. Riccio, Jr. sold 8,000 shares of the firm’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $28.17, for a total value of $225,360.00. Following the transaction, the chief financial officer now directly owns 115,651 shares of the company’s stock, valued at $3,257,888.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Douglas Collier sold 15,000 shares of the firm’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $26.86, for a total transaction of $402,900.00. Following the completion of the transaction, the senior vice president now directly owns 81,065 shares in the company, valued at $2,177,405.90. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have added to or reduced their stakes in the stock. Nationwide Fund Advisors raised its position in La-Z-Boy by 1.1% in the fourth quarter. Nationwide Fund Advisors now owns 41,595 shares of the company’s stock worth $1,016,000 after buying an additional 450 shares during the period. LSV Asset Management acquired a new position in La-Z-Boy during the fourth quarter worth $1,064,000. Buckhead Capital Management LLC raised its position in La-Z-Boy by 47.2% in the fourth quarter. Buckhead Capital Management LLC now owns 47,093 shares of the company’s stock worth $1,150,000 after buying an additional 15,111 shares during the period. Cornerstone Capital Management Holdings LLC. raised its position in La-Z-Boy by 14.5% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 50,940 shares of the company’s stock worth $1,243,000 after buying an additional 6,462 shares during the period. Finally, GSA Capital Partners LLP raised its position in La-Z-Boy by 78.7% in the fourth quarter. GSA Capital Partners LLP now owns 58,108 shares of the company’s stock worth $1,419,000 after buying an additional 25,600 shares during the period.
La-Z-Boy Incorporated manufactures, markets, imports, distributes and retails upholstery furniture products. In addition, the Company imports, distributes and retails accessories and case goods (wood) furniture products. The Company operates through segments including the Upholstery segment, the Casegoods segment and the Retail.
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