La-Z-Boy Incorporated (NYSE:LZB) Receives Consensus Rating of “Hold” from Analysts

La-Z-Boy Incorporated (NYSE:LZB) has been assigned a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $39.50.

Several analysts have recently weighed in on the company. Zacks Research cut La-Z-Boy from a “hold” rating to a “strong sell” rating in a report on Thursday. KeyCorp reduced their target price on shares of La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday. Wall Street Zen cut shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings downgraded shares of La-Z-Boy from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday.

La-Z-Boy Stock Performance

Shares of LZB traded down $0.12 during trading hours on Monday, reaching $33.59. The stock had a trading volume of 32,730 shares, compared to its average volume of 480,000. La-Z-Boy has a 12 month low of $29.03 and a 12 month high of $44.90. The stock has a market capitalization of $1.35 billion, a PE ratio of 17.01, a PEG ratio of 1.13 and a beta of 1.27. The company’s 50-day moving average is $39.73 and its two-hundred day moving average is $36.85.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Tuesday, August 18th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). La-Z-Boy had a return on equity of 11.79% and a net margin of 3.86%.The firm had revenue of $475.69 million for the quarter, compared to the consensus estimate of $501.44 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The company’s revenue was down 3.4% on a year-over-year basis. Equities analysts anticipate that La-Z-Boy will post 2.7 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Thursday, September 3rd will be paid a $0.242 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, September 3rd. La-Z-Boy’s payout ratio is currently 49.24%.

Insiders Place Their Bets

In other La-Z-Boy news, CEO Melinda D. Whittington sold 7,364 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $40.00, for a total transaction of $294,560.00. Following the completion of the sale, the chief executive officer owned 415,061 shares of the company’s stock, valued at approximately $16,602,440. This represents a 1.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer Lynn Mccurry sold 3,715 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $41.05, for a total transaction of $152,500.75. Following the completion of the transaction, the chief accounting officer owned 16,763 shares in the company, valued at $688,121.15. This trade represents a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 66,299 shares of company stock valued at $2,677,491 over the last three months. Insiders own 3.12% of the company’s stock.

Hedge Funds Weigh In On La-Z-Boy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP grew its holdings in La-Z-Boy by 4,785.7% during the 4th quarter. Quarry LP now owns 684 shares of the company’s stock worth $25,000 after acquiring an additional 670 shares during the period. Versant Capital Management Inc lifted its stake in shares of La-Z-Boy by 172.8% in the 2nd quarter. Versant Capital Management Inc now owns 652 shares of the company’s stock valued at $26,000 after purchasing an additional 413 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of La-Z-Boy in the 2nd quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its position in shares of La-Z-Boy by 290.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after purchasing an additional 670 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake 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 worth $42,000 after purchasing an additional 567 shares during the period. Institutional investors and hedge funds 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.