Alliancebernstein L.P. cut its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 1.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,926 shares of the company’s stock after selling 950 shares during the quarter. Alliancebernstein L.P. owned approximately 0.15% of La-Z-Boy worth $1,437,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Credit Suisse AG lifted its stake in shares of La-Z-Boy by 34.3% in the 4th quarter. Credit Suisse AG now owns 51,335 shares of the company’s stock valued at $1,617,000 after purchasing an additional 13,125 shares during the period. AlphaCrest Capital Management LLC lifted its stake in shares of La-Z-Boy by 103.1% in the 1st quarter. AlphaCrest Capital Management LLC now owns 17,516 shares of the company’s stock valued at $360,000 after purchasing an additional 8,892 shares during the period. Norges Bank acquired a new position in shares of La-Z-Boy in the 4th quarter valued at about $33,163,000. JPMorgan Chase & Co. lifted its stake in shares of La-Z-Boy by 24.0% in the 1st quarter. JPMorgan Chase & Co. now owns 114,699 shares of the company’s stock valued at $2,358,000 after purchasing an additional 22,179 shares during the period. Finally, Raymond James & Associates lifted its stake in shares of La-Z-Boy by 259.6% in the 1st quarter. Raymond James & Associates now owns 77,712 shares of the company’s stock valued at $1,597,000 after purchasing an additional 56,102 shares during the period. 89.75% of the stock is currently owned by institutional investors.
LZB has been the topic of a number of recent analyst reports. KeyCorp reissued a “hold” rating on shares of La-Z-Boy in a research note on Wednesday, June 24th. Zacks Investment Research downgraded La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. TheStreet lowered La-Z-Boy from a “b-” rating to a “c” rating in a report on Friday, March 6th. Stifel Nicolaus boosted their price objective on La-Z-Boy from $25.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Finally, ValuEngine raised La-Z-Boy from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. La-Z-Boy currently has a consensus rating of “Hold” and an average price target of $33.25.
La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, June 23rd. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.29. The company had revenue of $367.30 million during the quarter, compared to analyst estimates of $384.96 million. La-Z-Boy had a return on equity of 14.17% and a net margin of 4.55%. La-Z-Boy’s quarterly revenue was down 19.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. On average, research analysts expect that La-Z-Boy Incorporated will post 1.02 earnings per share for the current year.
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.
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