La-Z-Boy Incorporated (LZB) Receives $35.67 Consensus Price Target from Analysts
La-Z-Boy Incorporated (NYSE:LZB) has received an average rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $35.67.
Several brokerages have recently commented on LZB. ValuEngine upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. Zacks Investment Research upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Wednesday, January 31st. Stifel Nicolaus restated a “hold” rating on shares of La-Z-Boy in a research report on Friday, December 1st. Finally, KeyCorp restated a “buy” rating and set a $36.00 price objective on shares of La-Z-Boy in a research report on Friday, November 10th.
Shares of La-Z-Boy (NYSE LZB) traded down $0.05 during mid-day trading on Wednesday, hitting $30.55. 366,956 shares of the stock traded hands, compared to its average volume of 436,154. The company has a market cap of $1,440.28, a P/E ratio of 19.97 and a beta of 0.84. La-Z-Boy has a 12-month low of $23.15 and a 12-month high of $34.25.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, March 6th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, March 5th. This represents a $0.48 dividend on an annualized basis and a yield of 1.57%. La-Z-Boy’s dividend payout ratio is currently 31.37%.
In other La-Z-Boy news, VP Louis M. Riccio, Jr. sold 65,910 shares of La-Z-Boy stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $31.72, for a total value of $2,090,665.20. Following the sale, the vice president now directly owns 95,342 shares in the company, valued at approximately $3,024,248.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Douglas Collier sold 4,000 shares of La-Z-Boy stock in a transaction on Friday, December 29th. The shares were sold at an average price of $31.71, for a total transaction of $126,840.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,910 shares of company stock worth $2,595,625. 3.17% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in LZB. Toronto Dominion Bank bought a new stake in La-Z-Boy in the 3rd quarter valued at $135,000. Ameritas Investment Partners Inc. increased its holdings in La-Z-Boy by 7.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,240 shares of the company’s stock valued at $138,000 after acquiring an additional 290 shares during the last quarter. Amalgamated Bank bought a new stake in La-Z-Boy in the 4th quarter valued at $218,000. AMP Capital Investors Ltd bought a new stake in La-Z-Boy in the 4th quarter valued at $239,000. Finally, Crossmark Global Holdings Inc. bought a new stake in La-Z-Boy in the 3rd quarter valued at $254,000. Institutional investors own 88.64% of the company’s stock.
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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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