La-Z-Boy (NYSE:LZB) Rating Lowered to Strong Sell at Zacks Research

La-Z-Boy (NYSE:LZB) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.

LZB has been the topic of several other research reports. Wall Street Zen lowered La-Z-Boy from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings lowered La-Z-Boy from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday. Finally, KeyCorp dropped their price objective on La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.50.

La-Z-Boy Trading Up 0.5%

La-Z-Boy stock opened at $33.82 on Thursday. La-Z-Boy has a 1-year low of $29.03 and a 1-year high of $44.90. The company has a fifty day simple moving average of $39.73 and a 200 day simple moving average of $36.85. The company has a market cap of $1.35 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.08 and a beta of 1.27.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings results on Tuesday, August 18th. The company reported $0.43 EPS for the quarter, missing the consensus estimate 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 business had revenue of $475.69 million for the quarter, compared to the consensus estimate of $501.44 million. During the same period last year, the firm earned $0.47 earnings per share. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts forecast that La-Z-Boy will post 2.84 EPS for the current year.

Insiders Place Their Bets

In other La-Z-Boy news, insider Terrence James Linz sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $40.23, for a total value of $100,575.00. Following the sale, the insider owned 64,383 shares in the company, valued at $2,590,128.09. This represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Melinda D. Whittington sold 7,364 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $40.00, for a total value of $294,560.00. Following the completion of the sale, the chief executive officer directly owned 415,061 shares of the company’s stock, valued at approximately $16,602,440. The trade was a 1.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 66,299 shares of company stock worth $2,677,491 in the last three months. Insiders own 3.12% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quarry LP raised its stake in La-Z-Boy by 4,785.7% in the 4th quarter. Quarry LP now owns 684 shares of the company’s stock valued at $25,000 after acquiring an additional 670 shares during the period. Versant Capital Management Inc boosted its position in La-Z-Boy by 172.8% during the second quarter. Versant Capital Management Inc now owns 652 shares of the company’s stock worth $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 second quarter valued at $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of La-Z-Boy by 290.0% in the second quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after purchasing an additional 670 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of La-Z-Boy by 99.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock valued at $42,000 after purchasing an additional 567 shares during the period. 99.62% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about La-Z-Boy

Here are the key news stories impacting La-Z-Boy this week:

• Positive Sentiment: La-Z-Boy’s retail business showed momentum, with retail-segment sales reportedly rising 16% and the company returning $35 million to shareholders. La-Z-Boy Shatters Records: 16% Retail Segment Sales Growth and $35 Million Shareholder Returns
• Positive Sentiment: Management expects second-quarter sales of $500 million to $520 million while investing in supply-chain capacity and retail expansion, signaling confidence in longer-term growth. La-Z-Boy expects Q2 sales of $500M-$520M while investing in supply chain and retail expansion
• Neutral Sentiment: Recent coverage indicates that strong retail performance was offset by weaker wholesale results, highlighting uneven demand across La-Z-Boy’s distribution channels. La-Z-Boy’s retail momentum offset by wholesale numbers in Q1
• Negative Sentiment: Sidoti lowered its FY2027 EPS forecast to $2.55 from $2.66, cut Q2 2027 estimates to $0.48 from $0.73, and reduced Q3 and Q4 estimates to $0.59 and $1.04, respectively. Its Q2 2028 forecast fell to $0.58 from $0.87.
• Negative Sentiment: Sidoti also reduced FY2028 EPS expectations to $3.00 from $3.32. The repeated estimate cuts imply analysts see softer profitability ahead, which is likely weighing on LZB shares.
• Negative Sentiment: La-Z-Boy’s latest reported quarter missed expectations, with EPS of $0.43 versus $0.49 expected and revenue of $475.69 million versus $501.44 million forecast; revenue declined 3.4% year over year.

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.