La-Z-Boy Incorporated (NYSE:LZB – Get Free Report) insider Terrence James Linz sold 2,500 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $40.23, for a total transaction of $100,575.00. Following the completion of the transaction, the insider owned 64,383 shares in the company, valued at approximately $2,590,128.09. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
La-Z-Boy Stock Down 0.3%
La-Z-Boy stock opened at $39.80 on Friday. La-Z-Boy Incorporated has a twelve month low of $29.03 and a twelve month high of $44.90. The firm has a 50 day moving average price of $37.24 and a 200-day moving average price of $36.50. The company has a market capitalization of $1.59 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.22 and a beta of 1.25.
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 (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.44. La-Z-Boy had a net margin of 4.80% and a return on equity of 11.97%. The company had revenue of $570.34 million during the quarter, compared to analyst estimates of $569.23 million. During the same quarter last year, the business posted $0.36 EPS. La-Z-Boy’s quarterly revenue was down .1% compared to the same quarter last year. Equities analysts expect that La-Z-Boy Incorporated will post 2.98 EPS for the current fiscal year.
La-Z-Boy Dividend Announcement
Analyst Ratings Changes
LZB has been the topic of a number of recent research reports. Weiss Ratings raised La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Wall Street Zen lowered La-Z-Boy from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, La-Z-Boy presently has an average rating of “Moderate Buy” and a consensus price target of $39.00.
Read Our Latest Stock Report on LZB
Institutional Trading of La-Z-Boy
Institutional investors have recently modified their holdings of the business. American Century Companies Inc. lifted its holdings in shares of La-Z-Boy by 7.2% in the 3rd quarter. American Century Companies Inc. now owns 1,434,642 shares of the company’s stock worth $49,237,000 after acquiring an additional 95,737 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of La-Z-Boy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company’s stock valued at $179,422,000 after purchasing an additional 38,513 shares in the last quarter. CSM Advisors LLC purchased a new stake in shares of La-Z-Boy in the 3rd quarter valued at $3,958,000. M&T Bank Corp bought a new position in shares of La-Z-Boy during the 4th quarter valued at $18,433,000. Finally, Rafferty Asset Management LLC grew its holdings in shares of La-Z-Boy by 124.0% during the 3rd quarter. Rafferty Asset Management LLC now owns 32,576 shares of the company’s stock valued at $1,118,000 after purchasing an additional 18,031 shares during the last quarter. 99.62% of the stock is currently owned by hedge funds and other institutional investors.
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.
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