La-Z-Boy Incorporated (NYSE:LZB) Receives $42.50 Average PT from Analysts

by · The Markets Daily

Shares of La-Z-Boy Incorporated (NYSE:LZB – Get Free Report) have earned an average recommendation of “Buy” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $42.50.

Several equities research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating on shares of La-Z-Boy in a research note on Wednesday, December 17th. Zacks Research raised shares of La-Z-Boy from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 21st. KeyCorp restated an “overweight” rating on shares of La-Z-Boy in a report on Wednesday, December 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of La-Z-Boy in a research note on Monday. Finally, Sidoti raised shares of La-Z-Boy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $39.00 in a research report on Wednesday, November 19th.

Read Our Latest Report on LZB

La-Z-Boy Stock Down 0.7%

La-Z-Boy stock opened at $37.82 on Wednesday. La-Z-Boy has a 12 month low of $29.03 and a 12 month high of $48.31. The stock has a market cap of $1.56 billion, a P/E ratio of 17.35 and a beta of 1.28. The company’s fifty day simple moving average is $35.25 and its 200-day simple moving average is $36.16.

La-Z-Boy (NYSE:LZB – Get Free Report) last released its quarterly earnings data on Tuesday, November 18th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. La-Z-Boy had a return on equity of 11.19% and a net margin of 4.29%.The firm had revenue of $522.48 million during the quarter, compared to analysts’ expectations of $517.63 million. During the same quarter last year, the firm earned $0.71 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts expect that La-Z-Boy will post 2.99 earnings per share for the current fiscal year.

La-Z-Boy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Thursday, December 4th were issued a dividend of $0.242 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.22. La-Z-Boy’s payout ratio is currently 44.50%.

Institutional Investors Weigh In On La-Z-Boy

A number of large investors have recently added to or reduced their stakes in LZB. Cambria Investment Management L.P. raised its position in shares of La-Z-Boy by 25.0% in the third quarter. Cambria Investment Management L.P. now owns 14,051 shares of the company’s stock valued at $482,000 after purchasing an additional 2,808 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of La-Z-Boy by 3,130.8% during the 3rd 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 period. CIBC Bancorp USA Inc. acquired a new position in La-Z-Boy in the 3rd quarter valued at $616,000. Morningstar Investment Management LLC bought a new position in La-Z-Boy in the 3rd quarter worth $1,091,000. Finally, Verity Asset Management Inc. acquired a new position in La-Z-Boy during the 3rd quarter worth $355,000. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Company Profile

(Get Free Report)

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