La-Z-Boy Incorporated (NYSE:LZB) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• La-Z-Boy has a “Moderate Buy” consensus rating from five analysts, with four buy ratings and one hold; the average 12-month price target is $39.00.
• The stock recently traded down 0.9% to $40.55, while the company’s latest quarterly results exceeded expectations with EPS of $1.26 versus the $0.82 consensus and revenue of $570.34 million.
• Insiders sold 66,299 shares worth approximately $2.68 million during the last quarter, while institutional investors own a substantial 99.62% of the company’s outstanding shares.

La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the five ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $39.00.

LZB has been the topic of a number of research reports. Wall Street Zen upgraded shares of La-Z-Boy from a "hold" rating to a "buy" rating in a research report on Sunday, July 5th. Weiss Ratings upgraded shares of La-Z-Boy from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, July 1st.

La-Z-Boy Trading Down 0.9%

Shares of La-Z-Boy stock traded down $0.38 during mid-day trading on Thursday, reaching $40.55. 5,795 shares of the stock were exchanged, compared to its average volume of 463,626. La-Z-Boy has a fifty-two week low of $29.03 and a fifty-two week high of $44.90. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 1.26 and a beta of 1.25. The firm has a 50-day simple moving average of $38.82 and a 200 day simple moving average of $36.65.

La-Z-Boy (NYSE:LZB - Get Free Report) last released its quarterly earnings results on Tuesday, June 16th. The company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.44. The business had revenue of $570.34 million for the quarter, compared to analyst estimates of $569.23 million. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.La-Z-Boy's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 EPS. On average, research analysts predict that La-Z-Boy will post 2.98 EPS for the current fiscal year.

Insider Activity at La-Z-Boy

In other news, insider Terrence James Linz sold 2,500 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $40.23, for a total transaction of $100,575.00. Following the completion of the sale, the insider owned 64,383 shares in the company, valued at $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 SEC, which is available through this link. Also, VP Raphaell Z. Richmond sold 13,671 shares of the company's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $39.83, for a total value of $544,515.93. Following the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 66,299 shares of company stock valued at $2,677,491 over the last quarter. 3.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On La-Z-Boy

A number of institutional investors and hedge funds have recently modified their holdings of LZB. Versant Capital Management Inc lifted its holdings in La-Z-Boy by 172.8% in the second quarter. Versant Capital Management Inc now owns 652 shares of the company's stock valued at $26,000 after buying an additional 413 shares during the period. Quarry LP raised its position in shares of La-Z-Boy by 4,785.7% during the 4th quarter. Quarry LP now owns 684 shares of the company's stock valued at $25,000 after acquiring an additional 670 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of La-Z-Boy by 290.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company's stock valued at $33,000 after purchasing an additional 670 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of La-Z-Boy by 99.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company's stock valued at $42,000 after purchasing an additional 567 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its position in shares of 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 last quarter. 99.62% of the stock is owned by 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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