La-Z-Boy Incorporated (NYSE:LZB) Stock Now Rated “Hold” by Sell-Side Analysts

by · The Cerbat Gem

La-Z-Boy Incorporated (NYSE:LZB – Get Free Report) has received an average recommendation of “Hold” from the five ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $39.50.

Several analysts recently issued reports on LZB shares. Wall Street Zen lowered shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. KeyCorp lowered their price objective on shares of La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, August 20th. Weiss Ratings cut La-Z-Boy from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. Finally, Zacks Research downgraded La-Z-Boy from a “hold” rating to a “strong sell” rating in a report on Thursday, August 20th.

Check Out Our Latest Research Report on LZB

La-Z-Boy Stock Performance

NYSE:LZB opened at $29.92 on Friday. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.10 and a beta of 1.23. La-Z-Boy has a fifty-two week low of $29.03 and a fifty-two week high of $44.90. The stock has a fifty day moving average price of $35.75 and a 200-day moving average price of $35.91.

La-Z-Boy (NYSE:LZB – Get Free Report) last announced its quarterly earnings data on Tuesday, August 18th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The firm had revenue of $475.69 million for the quarter, compared to analyst estimates of $501.44 million. La-Z-Boy had a return on equity of 11.79% and a net margin of 3.86%.The company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 earnings per share. Research analysts predict that La-Z-Boy will post 2.53 EPS for the current fiscal year.

La-Z-Boy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Thursday, September 3rd were issued a dividend of $0.2420 per share. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.2%. La-Z-Boy’s payout ratio is 49.24%.

Insiders Place Their Bets

In related news, Director Janet Kerr sold 3,653 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $31.75, for a total value of $115,982.75. Following the sale, the director directly owned 4,125 shares of the company’s stock, valued at $130,968.75. This trade represents a 46.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Raphaell Z. Richmond sold 13,671 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $39.83, for a total value of $544,515.93. Following the completion of the sale, the vice president directly owned 51,695 shares in the company, valued at $2,059,011.85. This trade represents a 20.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,824 shares of company stock valued at $915,324 in the last quarter. Corporate insiders own 3.12% of the company’s stock.

Institutional Investors Weigh In On La-Z-Boy

Hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd bought a new stake in shares of La-Z-Boy during the 2nd quarter valued at approximately $3,896,000. Integrated Wealth Concepts LLC acquired a new position in La-Z-Boy during the 2nd quarter worth approximately $119,000. Squarepoint Ops LLC bought a new position in La-Z-Boy in the 2nd quarter valued at approximately $2,052,000. Allworth Financial LP lifted its stake in La-Z-Boy by 47.4% in the 2nd quarter. Allworth Financial LP now owns 2,803 shares of the company’s stock valued at $112,000 after purchasing an additional 902 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in La-Z-Boy in the second quarter valued at approximately $534,000. 99.62% of the stock is currently owned by institutional investors and hedge funds.

About La-Z-Boy

(Get Free Report)

La-Z-Boy Incorporated is a residential furniture manufacturer and retailer best known for its upholstered recliners. The company offers a broad range of furniture for living rooms, family rooms, bedrooms and other areas of the home, including recliners, sofas, sectionals, chairs, ottomans, tables, beds and complementary home furnishings.

Founded in 1927 in Monroe, Michigan, La-Z-Boy built its reputation around its reclining chair and has expanded into a full-service home furnishings company.

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