La-Z-Boy Incorporated (NYSE:LZB – Get Free Report)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $36.18 and traded as high as $38.02. La-Z-Boy shares last traded at $37.95, with a volume of 160,899 shares traded.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on LZB shares. Weiss Ratings reissued a “hold (c)” rating on shares of La-Z-Boy in a report on Monday. Needham & Company LLC reiterated a “buy” rating on shares of La-Z-Boy in a research report on Wednesday, December 17th. Zacks Research upgraded La-Z-Boy from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 21st. KeyCorp reiterated an “overweight” rating on shares of La-Z-Boy in a research report on Wednesday, December 17th. Finally, Sidoti raised La-Z-Boy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $39.00 in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $42.50.
View Our Latest Analysis on La-Z-Boy
La-Z-Boy Stock Down 0.6%
La-Z-Boy (NYSE:LZB – Get Free Report) last posted its quarterly earnings data on Tuesday, November 18th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. The firm had revenue of $522.48 million during the quarter, compared to analysts’ expectations of $517.63 million. La-Z-Boy had a return on equity of 11.19% and a net margin of 4.29%.The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 EPS. Research analysts expect that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.
La-Z-Boy Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Thursday, December 4th were given a dividend of $0.242 per share. The ex-dividend date was Thursday, December 4th. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.22. This represents a $0.97 dividend on an annualized basis and a yield of 2.6%. La-Z-Boy’s dividend payout ratio (DPR) is 44.50%.
Institutional Investors Weigh In On La-Z-Boy
A number of institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its stake in shares of La-Z-Boy by 208.8% during the third quarter. Franklin Resources Inc. now owns 1,492,928 shares of the company’s stock valued at $51,237,000 after buying an additional 1,009,428 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in La-Z-Boy during the 1st quarter valued at about $10,806,000. Qube Research & Technologies Ltd grew its position in La-Z-Boy by 64.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 391,470 shares of the company’s stock worth $14,551,000 after acquiring an additional 153,498 shares during the last quarter. CSM Advisors LLC purchased a new position in La-Z-Boy in the 3rd quarter worth approximately $3,958,000. Finally, Allspring Global Investments Holdings LLC increased its stake in La-Z-Boy by 18.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 721,029 shares of the company’s stock worth $24,400,000 after purchasing an additional 113,396 shares during the period. Hedge funds and other institutional investors own 99.62% of the company’s stock.
La-Z-Boy Company Profile
La-Z-Boy Incorporated (NYSE: LZB) is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.
Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.
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