Leon’s Furniture (TSE:LNF) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Leon’s Furniture Limited (TSE:LNF) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$27.28 and traded as low as C$24.78. Leon’s Furniture shares last traded at C$24.78, with a volume of 14,735 shares trading hands.

Wall Street Analyst Weigh In

Separately, National Bank Financial raised their price target on Leon’s Furniture from C$35.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 11th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$33.00.

Leon’s Furniture Price Performance

The company’s 50-day simple moving average is C$25.65 and its 200 day simple moving average is C$27.28. The company has a market capitalization of C$1.71 billion, a P/E ratio of 11.01 and a beta of 0.93. The company has a quick ratio of 0.53, a current ratio of 1.53 and a debt-to-equity ratio of 38.77.

Leon’s Furniture (TSE:LNF) last released its quarterly earnings results on Thursday, May 7th. The company reported C$0.29 earnings per share for the quarter. Leon’s Furniture had a net margin of 6.06% and a return on equity of 12.69%. The business had revenue of C$557.15 million for the quarter. As a group, sell-side analysts expect that Leon’s Furniture Limited will post 2.2104466 earnings per share for the current fiscal year.

Insider Buying and Selling at Leon’s Furniture

In related news, insider Darci Marie Walker purchased 1,500 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was bought at an average price of C$24.00 per share, for a total transaction of C$36,000.00. Following the purchase, the insider owned 2,500 shares in the company, valued at C$60,000. The trade was a 150.00% increase in their position. Also, insider Lewis Mark Leon purchased 1,500 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were bought at an average price of C$24.40 per share, with a total value of C$36,600.00. Following the purchase, the insider owned 116,026 shares in the company, valued at C$2,831,034.40. This represents a 1.31% increase in their position. Insiders have acquired 4,320 shares of company stock worth $104,915 over the last three months. Company insiders own 69.49% of the company’s stock.

About Leon’s Furniture

Leon’s Furniture Ltd is a Canada-based retailer which is involved in the sale of home furnishing, mattresses, appliances, and electronics. The firm is also the country’s commercial retailer of appliances to builders, developers, hotels, and property management companies. It generates maximum revenue from sales of goods by corporate stores.