La-Z-Boy Incorporated (NYSE:LZB) Stock Has Consensus Target Price of $39.50

Shares of La-Z-Boy Incorporated (NYSE:LZB) have received an average rating of “Hold” from the five ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $39.50.

A number of research firms have weighed in on LZB. Weiss Ratings cut shares of La-Z-Boy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Wall Street Zen lowered La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. KeyCorp cut their price target on La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, August 20th. Finally, Zacks Research downgraded La-Z-Boy from a “hold” rating to a “strong sell” rating in a report on Thursday, August 20th.

Insider Buying and Selling

In other news, Director Janet Kerr sold 3,653 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $31.75, for a total transaction of $115,982.75. Following the completion of the sale, the director owned 4,125 shares of the company’s stock, valued at approximately $130,968.75. This trade represents a 46.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Sundy, II sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $30.85, for a total transaction of $154,250.00. Following the sale, the insider directly owned 59,297 shares of the company’s stock, valued at $1,829,312.45. The trade was a 7.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.12% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LZB. Versant Capital Management Inc grew its holdings in La-Z-Boy by 172.8% during the 2nd quarter. Versant Capital Management Inc now owns 652 shares of the company’s stock worth $26,000 after acquiring an additional 413 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of La-Z-Boy in the 2nd quarter worth about $28,000. Rockefeller Capital Management L.P. increased its position in shares of La-Z-Boy by 159.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock worth $43,000 after purchasing an additional 713 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of La-Z-Boy by 112.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,510 shares of the company’s stock valued at $56,000 after purchasing an additional 798 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of La-Z-Boy by 114.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,549 shares of the company’s stock valued at $62,000 after purchasing an additional 828 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors.

La-Z-Boy Price Performance

LZB traded up $0.35 during trading hours on Tuesday, reaching $29.56. 23,682 shares of the stock traded hands, compared to its average volume of 532,672. The firm’s fifty day simple moving average is $33.25 and its two-hundred day simple moving average is $35.62. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.05 and a beta of 1.24. La-Z-Boy has a fifty-two week low of $28.79 and a fifty-two week high of $44.90.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Tuesday, August 18th. The company reported $0.43 earnings per share (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 firm had revenue of $475.69 million for the quarter, compared to analysts’ expectations of $501.44 million. During the same period last year, the firm earned $0.47 EPS. The business’s quarterly revenue was down 3.4% on a year-over-year basis. On average, research analysts predict that La-Z-Boy will post 2.53 earnings per share for the current year.

La-Z-Boy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd were issued a dividend of $0.2420 per share. The ex-dividend date was Thursday, September 3rd. This represents a $0.97 annualized dividend and a yield of 3.3%. La-Z-Boy’s payout ratio is currently 48.73%.

La-Z-Boy Company Profile

La-Z-Boy Incorporated (NYSE: LZB) is a furniture manufacturer and retailer best known for its upholstered reclining chairs. The company’s product portfolio also includes sofas, sectionals, stationary chairs, loveseats, ottomans, tables, beds and other home furnishings, offered in a range of styles, fabrics and leather options.

La-Z-Boy operates through a combination of furniture manufacturing, wholesale and retail activities. Its products are sold through company-owned La-Z-Boy Furniture Galleries, independent furniture dealers and other retail channels, including its e-commerce platform.