La-Z-Boy Incorporated (NYSE:LZB – Get Free Report) SVP Michael Adam Leggett sold 9,000 shares of La-Z-Boy stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $41.66, for a total value of $374,940.00. Following the completion of the transaction, the senior vice president owned 47,551 shares in the company, valued at $1,980,974.66. The trade was a 15.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
La-Z-Boy Stock Down 2.6%
Shares of NYSE LZB traded down $1.10 during mid-day trading on Thursday, hitting $40.74. 707,958 shares of the company traded hands, compared to its average volume of 461,002. La-Z-Boy Incorporated has a 1 year low of $29.03 and a 1 year high of $44.90. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.23 and a beta of 1.26. The business has a 50 day moving average of $36.55 and a two-hundred day moving average of $36.42.
La-Z-Boy (NYSE:LZB – Get Free Report) last issued its quarterly earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. The firm had revenue of $570.34 million for the quarter, compared to analysts’ expectations of $569.23 million. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.La-Z-Boy’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. As a group, research analysts anticipate that La-Z-Boy Incorporated will post 2.98 EPS for the current year.
La-Z-Boy Dividend Announcement
Wall Street Analyst Weigh In
Several brokerages have issued reports on LZB. Wall Street Zen raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Weiss Ratings raised La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.
Read Our Latest Research Report on LZB
Institutional Trading of La-Z-Boy
A number of institutional investors have recently bought and sold shares of the company. Quarry LP increased its position in La-Z-Boy by 4,785.7% in the 4th quarter. Quarry LP now owns 684 shares of the company’s stock worth $25,000 after purchasing an additional 670 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of La-Z-Boy by 290.0% during 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. grew its stake 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 in the last quarter. Rockefeller Capital Management L.P. increased its holdings in La-Z-Boy by 159.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock worth $43,000 after buying an additional 713 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in La-Z-Boy by 3,130.8% in the third quarter. CIBC Private Wealth Group LLC now owns 1,260 shares of the company’s stock worth $43,000 after buying an additional 1,221 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.
La-Z-Boy Company Profile
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.
Further Reading
- Five stocks we like better than La-Z-Boy
- MDA Space Targets US Defense Market With $620M Acquisition
- Carnival’s Second Quarter: Is the Stock Still Complicated?
- Domino’s Stock Slides to 52-Week Low as Investors Digest CEO Change
- Microsoft Solves AI’s Biggest Bottleneck With Chevron Deal
Receive News & Ratings for La-Z-Boy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La-Z-Boy and related companies with MarketBeat.com's FREE daily email newsletter.
