La-Z-Boy Inc. (LZB) Rating Reiterated by KeyCorp
La-Z-Boy Inc. (NYSE:LZB)‘s stock had its “buy” rating reiterated by equities researchers at KeyCorp in a report issued on Monday. They currently have a $28.00 price target on the stock. KeyCorp’s price objective would suggest a potential upside of 15.46% from the company’s previous close.
Other analysts have also recently issued reports about the company. Zacks Investment Research raised La-Z-Boy from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Longbow Research assumed coverage on La-Z-Boy in a report on Friday, August 5th. They set a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $30.33.
La-Z-Boy (NYSE:LZB) opened at 24.25 on Monday. La-Z-Boy has a 52-week low of $19.56 and a 52-week high of $31.22. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 15.52 and a beta of 1.27. The company’s 50-day moving average is $25.97 and its 200 day moving average is $27.02.
La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Tuesday, August 23rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The firm had revenue of $340.80 million for the quarter, compared to analysts’ expectations of $358.79 million. La-Z-Boy had a return on equity of 15.01% and a net margin of 5.21%. The firm’s revenue was down .2% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. Equities analysts forecast that La-Z-Boy will post $1.71 earnings per share for the current fiscal year.
In related news, insider John Douglas Collier sold 26,874 shares of the stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $26.17, for a total transaction of $703,292.58. Following the sale, the insider now owns 98,849 shares in the company, valued at approximately $2,586,878.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Otis S. Sawyer sold 5,935 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $27.46, for a total value of $162,975.10. Following the sale, the insider now owns 62,216 shares in the company, valued at approximately $1,708,451.36. The disclosure for this sale can be found here. Corporate insiders own 3.57% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in LZB. Hsbc Holdings PLC raised its stake in La-Z-Boy by 0.8% in the second quarter. Hsbc Holdings PLC now owns 8,596 shares of the company’s stock valued at $239,000 after buying an additional 71 shares during the last quarter. Capstone Asset Management Co. raised its stake in La-Z-Boy by 0.6% in the second quarter. Capstone Asset Management Co. now owns 14,703 shares of the company’s stock valued at $409,000 after buying an additional 90 shares during the last quarter. PineBridge Investments L.P. raised its stake in La-Z-Boy by 3.8% in the second quarter. PineBridge Investments L.P. now owns 6,327 shares of the company’s stock valued at $176,000 after buying an additional 231 shares during the last quarter. JPMorgan Chase & Co. raised its stake in La-Z-Boy by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 35,565 shares of the company’s stock valued at $989,000 after buying an additional 264 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in La-Z-Boy by 1.2% in the second quarter. Arizona State Retirement System now owns 25,885 shares of the company’s stock valued at $720,000 after buying an additional 300 shares during the last quarter. Institutional investors own 86.05% of the company’s stock.
La-Z-Boy Company Profile
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.
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