Analysts Set La-Z-Boy Incorporated (NYSE:LZB) Price Target at $39.00

La-Z-Boy Incorporated (NYSE:LZB) has received a consensus rating of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $39.00.

A number of equities research analysts recently commented on LZB shares. Weiss Ratings reissued a “hold (c)” rating on shares of La-Z-Boy in a research report on Monday. Wall Street Zen raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Saturday.

Institutional Investors Weigh In On La-Z-Boy

A number of hedge funds and other institutional investors have recently bought and sold shares of LZB. Quarry LP lifted its position in La-Z-Boy by 4,785.7% during the fourth quarter. Quarry LP now owns 684 shares of the company’s stock valued at $25,000 after acquiring an additional 670 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in La-Z-Boy by 75.2% during the third quarter. Smartleaf Asset Management LLC now owns 755 shares of the company’s stock valued at $26,000 after acquiring an additional 324 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in La-Z-Boy by 290.0% during the second quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after acquiring an additional 670 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in La-Z-Boy by 99.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock valued at $42,000 after acquiring an additional 567 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in La-Z-Boy by 159.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock valued at $43,000 after acquiring an additional 713 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Performance

Shares of LZB opened at $36.68 on Friday. The company has a 50 day moving average price of $34.05 and a 200-day moving average price of $35.88. La-Z-Boy has a fifty-two week low of $29.03 and a fifty-two week high of $43.27. The stock has a market capitalization of $1.50 billion, a PE ratio of 18.16 and a beta of 1.25.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.02. La-Z-Boy had a net margin of 3.93% and a return on equity of 10.79%. The firm had revenue of $541.59 million during the quarter, compared to analysts’ expectations of $535.47 million. During the same quarter in the prior year, the company earned $0.68 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts forecast that La-Z-Boy will post 2.61 EPS for the current year.

La-Z-Boy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Tuesday, June 2nd will be given a dividend of $0.242 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.97 dividend on an annualized basis and a yield of 2.6%. La-Z-Boy’s dividend payout ratio is presently 48.02%.

About La-Z-Boy

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.