La-Z-Boy Incorporated (NYSE:LZB) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of La-Z-Boy Incorporated (NYSE:LZB) have earned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $39.00.

A number of analysts have recently commented on the company. Zacks Research cut La-Z-Boy from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Wall Street Zen cut La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd.

La-Z-Boy Price Performance

Shares of LZB stock opened at $34.35 on Friday. The stock has a market cap of $1.41 billion, a PE ratio of 17.01 and a beta of 1.25. The stock has a 50-day moving average of $33.91 and a 200-day moving average of $35.78. La-Z-Boy has a one year low of $29.03 and a one year high of $44.49.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. The company had revenue of $541.59 million during the quarter, compared to analysts’ expectations of $535.47 million. La-Z-Boy had a return on equity of 10.79% and a net margin of 3.93%.La-Z-Boy’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. As a group, research analysts anticipate that La-Z-Boy will post 2.61 earnings per share for the current year.

La-Z-Boy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd will be given a dividend of $0.242 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.97 dividend on an annualized basis and a yield of 2.8%. La-Z-Boy’s dividend payout ratio is 47.52%.

Insiders Place Their Bets

In other La-Z-Boy news, SVP Michael Adam Leggett sold 2,200 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $37.00, for a total transaction of $81,400.00. Following the completion of the transaction, the senior vice president owned 42,473 shares of the company’s stock, valued at $1,571,501. This represents a 4.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On La-Z-Boy

Large investors have recently made changes to their positions in the stock. Quarry LP boosted its holdings in shares of 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 buying an additional 670 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of La-Z-Boy by 75.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 755 shares of the company’s stock valued at $26,000 after buying an additional 324 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of La-Z-Boy by 290.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after buying an additional 670 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of La-Z-Boy by 99.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock valued at $42,000 after buying an additional 567 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings 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 valued at $43,000 after buying an additional 713 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

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.