La-Z-Boy Inc. (LZB) Sets New 52-Week High at $29.36
La-Z-Boy Inc. (NYSE:LZB)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $29.36 and last traded at $29.32, with a volume of 77,305 shares trading hands. The stock had previously closed at $28.88.
Separately, Zacks Investment Research upgraded La-Z-Boy from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Wednesday, March 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $31.67.
The stock has a market capitalization of $1.43 billion and a P/E ratio of 18.88. The firm has a 50 day moving average price of $26.77 and a 200-day moving average price of $24.94.
La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, June 21st. The company reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.03. The firm earned $417.07 million during the quarter. During the same quarter last year, the company earned $0.38 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Analysts forecast that La-Z-Boy Inc. will post $1.75 EPS for the current year.
In related news, SVP John Douglas Collier sold 15,000 shares of the stock in a transaction that occurred on Monday, June 27th. The stock was 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 $2,177,405.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kurt L. Darrow sold 110,729 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $27.79, for a total value of $3,077,158.91. Following the sale, the chief executive officer now directly owns 641,757 shares in the company, valued at approximately $17,834,427.03. The disclosure for this sale can be found here.
A number of large investors recently modified their holdings of LZB. Bank of Montreal Can increased its stake 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 worth $12,326,000 after buying an additional 492,595 shares in the last quarter. Morgan Stanley increased its stake 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 worth $11,390,000 after buying an additional 123,905 shares in the last quarter. Regal Investment Advisors LLC increased its stake in shares of La-Z-Boy by 2.3% in the fourth quarter. Regal Investment Advisors LLC now owns 280,474 shares of the company’s stock worth $6,849,000 after buying an additional 6,234 shares in the last quarter. Sei Investments Co. increased its stake in shares of La-Z-Boy by 242.6% in the fourth quarter. Sei Investments Co. now owns 158,317 shares of the company’s stock worth $3,866,000 after buying an additional 112,110 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of La-Z-Boy by 2.2% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 134,931 shares of the company’s stock worth $3,296,000 after buying an additional 2,889 shares in the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.