Empirical Financial Services LLC d.b.a. Empirical Wealth Management Invests $201,000 in La-Z-Boy Incorporated (NYSE:LZB)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in La-Z-Boy Incorporated (NYSE:LZB) in the first quarter, HoldingsChannel reports. The institutional investor acquired 5,141 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Private Client Wealth LLC boosted its position in shares of La-Z-Boy by 22.8% during the first quarter. TD Private Client Wealth LLC now owns 1,355 shares of the company’s stock worth $53,000 after acquiring an additional 252 shares during the last quarter. Johnson Financial Group Inc. boosted its position in shares of La-Z-Boy by 2,394.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company’s stock worth $80,000 after acquiring an additional 1,628 shares during the last quarter. Bank of Montreal Can bought a new position in shares of La-Z-Boy during the fourth quarter worth $203,000. iSAM Funds UK Ltd bought a new position in shares of La-Z-Boy during the fourth quarter worth $205,000. Finally, Bridgefront Capital LLC bought a new position in shares of La-Z-Boy during the fourth quarter worth $214,000. 99.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on LZB shares. KeyCorp upgraded shares of La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 price objective for the company in a research report on Friday, April 25th. Wall Street Zen lowered shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd.

La-Z-Boy Trading Up 1.5%

La-Z-Boy stock opened at $35.93 on Tuesday. The firm has a 50-day moving average price of $38.93 and a 200-day moving average price of $40.82. The firm has a market capitalization of $1.48 billion, a PE ratio of 15.22 and a beta of 1.26. La-Z-Boy Incorporated has a 12-month low of $34.89 and a 12-month high of $48.31.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings data on Tuesday, June 17th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.01). The business had revenue of $570.87 million during the quarter, compared to the consensus estimate of $557.44 million. La-Z-Boy had a net margin of 4.72% and a return on equity of 12.08%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.95 EPS. As a group, sell-side analysts predict that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.

About La-Z-Boy

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 Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures, and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, entertainment centers, and occasional pieces.