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

Shares of La-Z-Boy Incorporated (NYSE:LZB) have received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $42.50.

Several equities research analysts have recently commented on LZB shares. Zacks Research lowered La-Z-Boy from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. KeyCorp reissued an “overweight” rating on shares of La-Z-Boy in a report on Wednesday, December 17th. Weiss Ratings restated a “hold (c)” rating on shares of La-Z-Boy in a research report on Monday, December 22nd. Wall Street Zen raised La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of La-Z-Boy in a research report on Wednesday, December 17th.

Insider Activity

In other news, SVP Michael Adam Leggett sold 2,200 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $37.00, for a total value of $81,400.00. Following the completion of the sale, the senior vice president directly owned 42,473 shares of the company’s stock, valued at $1,571,501. This represents a 4.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On La-Z-Boy

Institutional investors have recently bought and sold shares of the business. Quarry LP lifted its position in shares of La-Z-Boy by 4,785.7% in the fourth quarter. Quarry LP now owns 684 shares of the company’s stock valued at $25,000 after acquiring an additional 670 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in La-Z-Boy by 75.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 755 shares of the company’s stock valued at $26,000 after purchasing an additional 324 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in La-Z-Boy by 290.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock worth $33,000 after purchasing an additional 670 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in La-Z-Boy by 99.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock worth $42,000 after purchasing an additional 567 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in 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 period. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Down 0.9%

Shares of NYSE:LZB opened at $31.61 on Friday. The stock has a market capitalization of $1.29 billion, a PE ratio of 15.65 and a beta of 1.28. The firm’s 50 day moving average price is $35.33 and its 200-day moving average price is $35.50. La-Z-Boy has a twelve month low of $29.03 and a twelve month high of $44.49.

La-Z-Boy (NYSE:LZB) last announced its 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. La-Z-Boy had a net margin of 3.93% and a return on equity of 10.79%. The business had revenue of $541.59 million during the quarter, compared to analysts’ expectations of $535.47 million. During the same period in the prior year, the company earned $0.68 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Analysts expect that La-Z-Boy will post 2.99 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were given a $0.242 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, March 3rd. La-Z-Boy’s dividend payout ratio is presently 48.02%.

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.