La-Z-Boy Inc. (LZB) Reaches New 52-Week High at $30.92
La-Z-Boy Inc. (NYSE:LZB)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $30.92 and last traded at $30.83, with a volume of 238,554 shares trading hands. The stock had previously closed at $30.12.
LZB has been the subject of a number of analyst reports. Zacks Investment Research raised shares of La-Z-Boy from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Friday, June 24th. Longbow Research initiated coverage on shares of La-Z-Boy in a research note on Friday, August 5th. They set a “neutral” rating for the company.
The company has a market capitalization of $1.51 billion and a price-to-earnings ratio of 19.95. The company has a 50 day moving average price of $29.64 and a 200-day moving average price of $26.57.
La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Tuesday, June 21st. The company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The business had revenue of $417.07 million for the quarter. During the same period last year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities analysts predict that La-Z-Boy Inc. will post $1.76 EPS for the current fiscal year.
In other news, SVP John Douglas Collier sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $26.86, for a total transaction of $402,900.00. Following the sale, the senior vice president now owns 81,065 shares of the company’s stock, valued at approximately $2,177,405.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Louis M. Riccio, Jr. sold 8,000 shares of the firm’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $28.17, for a total transaction of $225,360.00. Following the sale, the chief financial officer now directly owns 115,651 shares in the company, valued at approximately $3,257,888.67. The disclosure for this sale can be found here.
Several institutional investors have modified their holdings of the company. Cornerstone Capital Management Holdings LLC. boosted its position in shares of 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 valued at $1,243,000 after buying an additional 6,462 shares during the period. Morgan Stanley boosted its position in shares of La-Z-Boy by 36.2% in the fourth quarter. Morgan Stanley now owns 466,440 shares of the company’s stock valued at $11,390,000 after buying an additional 123,905 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of La-Z-Boy by 4,048.6% in the fourth quarter. Bank of Montreal Can now owns 504,762 shares of the company’s stock valued at $12,326,000 after buying an additional 492,595 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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