La-Z-Boy Incorporated (NYSE:LZB) – Investment analysts at KeyCorp cut their FY2019 earnings per share (EPS) estimates for La-Z-Boy in a research note issued on Wednesday, October 24th. KeyCorp analyst B. Thomas now expects that the company will earn $1.97 per share for the year, down from their previous forecast of $2.10.

LZB has been the subject of several other reports. Zacks Investment Research cut La-Z-Boy from a “hold” rating to a “sell” rating in a research note on Thursday. ValuEngine cut La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Stifel Nicolaus upped their target price on La-Z-Boy from $33.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, August 23rd.

Shares of LZB stock opened at $27.51 on Monday. The company has a market capitalization of $1.28 billion, a P/E ratio of 13.96 and a beta of 1.00. La-Z-Boy has a 1 year low of $25.90 and a 1 year high of $39.15.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings results on Tuesday, August 21st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.14. The business had revenue of $384.70 million during the quarter, compared to analysts’ expectations of $368.17 million. La-Z-Boy had a return on equity of 15.33% and a net margin of 5.43%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share.

In other news, Chairman Kurt L. Darrow sold 45,720 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $34.66, for a total transaction of $1,584,655.20. Following the completion of the transaction, the chairman now directly owns 549,302 shares in the company, valued at $19,038,807.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Douglas Collier sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $31.66, for a total transaction of $158,300.00. Following the transaction, the insider now owns 75,070 shares of the company’s stock, valued at $2,376,716.20. The disclosure for this sale can be found here. Insiders have sold 217,635 shares of company stock valued at $7,417,668 over the last 90 days. Corporate insiders own 4.55% of the company’s stock.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of La-Z-Boy by 9.6% during the second quarter. BlackRock Inc. now owns 6,602,851 shares of the company’s stock worth $202,048,000 after buying an additional 579,379 shares in the last quarter. Northern Trust Corp increased its holdings in shares of La-Z-Boy by 4.5% during the second quarter. Northern Trust Corp now owns 1,272,785 shares of the company’s stock worth $38,948,000 after buying an additional 55,269 shares in the last quarter. Royce & Associates LP increased its holdings in shares of La-Z-Boy by 12.2% during the second quarter. Royce & Associates LP now owns 1,042,460 shares of the company’s stock worth $31,899,000 after buying an additional 113,502 shares in the last quarter. LSV Asset Management increased its holdings in shares of La-Z-Boy by 101.4% during the second quarter. LSV Asset Management now owns 638,356 shares of the company’s stock worth $19,533,000 after buying an additional 321,456 shares in the last quarter. Finally, Botty Investors LLC increased its holdings in shares of La-Z-Boy by 11.4% during the third quarter. Botty Investors LLC now owns 604,435 shares of the company’s stock worth $19,100,000 after buying an additional 61,709 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

La-Z-Boy Company Profile

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.

Further Reading: Short Selling

Earnings History and Estimates for La-Z-Boy (NYSE:LZB)

Receive News & Ratings for La-Z-Boy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La-Z-Boy and related companies with MarketBeat.com's FREE daily email newsletter.