Leon’s Furniture (TSE:LNF) Stock Crosses Below 200-Day Moving Average – Here’s Why

Leon’s Furniture Limited (TSE:LNF) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$27.12 and traded as low as C$24.07. Leon’s Furniture shares last traded at C$24.40, with a volume of 45,785 shares.

Analyst Upgrades and Downgrades

Separately, National Bank Financial increased their target price on shares of Leon’s Furniture from C$35.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 11th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$33.00.

Leon’s Furniture Price Performance

The business’s 50 day moving average is C$25.54 and its two-hundred day moving average is C$27.07. The firm has a market capitalization of C$1.70 billion, a PE ratio of 10.94 and a beta of 1.17. The company has a debt-to-equity ratio of 38.77, a current ratio of 1.53 and a quick ratio of 0.53.

Leon’s Furniture (TSE:LNF) last announced its earnings results on Thursday, May 7th. The company reported C$0.29 earnings per share for the quarter. The business had revenue of C$557.15 million for the quarter. Leon’s Furniture had a net margin of 6.06% and a return on equity of 12.69%. As a group, research analysts anticipate that Leon’s Furniture Limited will post 2.2104466 EPS for the current year.

Insider Buying and Selling

In related news, insider Lewis Mark Leon bought 1,500 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of C$24.40 per share, with a total value of C$36,600.00. Following the completion of the purchase, the insider directly owned 116,026 shares of the company’s stock, valued at C$2,831,034.40. This trade represents a 1.31% increase in their position. Also, insider Darci Marie Walker bought 1,500 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average cost of C$24.00 per share, for a total transaction of C$36,000.00. Following the completion of the purchase, the insider directly owned 2,500 shares of the company’s stock, valued at C$60,000. This represents a 150.00% increase in their ownership of the stock. Insiders purchased 4,320 shares of company stock worth $104,915 over the last ninety days. 69.49% of the stock is currently owned by insiders.

About Leon’s Furniture

Leon’s Furniture Ltd is a Canada-based retailer which is involved in the sale of home furnishing, mattresses, appliances, and electronics. The firm is also the country’s commercial retailer of appliances to builders, developers, hotels, and property management companies. It generates maximum revenue from sales of goods by corporate stores.