La-Z-Boy (NYSE:LZB) Rating Increased to Overweight at KeyCorp

La-Z-Boy (NYSE:LZB - Get Free Report) was upgraded by research analysts at KeyCorp from a "sector weight" rating to an "overweight" rating in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $46.00 target price on the stock. KeyCorp's target price would indicate a potential upside of 19.33% from the company's previous close.

La-Z-Boy Stock Performance

Shares of NYSE:LZB opened at $38.55 on Friday. La-Z-Boy has a 52 week low of $32.00 and a 52 week high of $48.31. The company has a market capitalization of $1.59 billion, a PE ratio of 13.25 and a beta of 1.31. The company's fifty day moving average is $40.32 and its 200-day moving average is $42.27.

La-Z-Boy (NYSE:LZB - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.01. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. The company had revenue of $521.78 million during the quarter, compared to the consensus estimate of $516.47 million. On average, analysts forecast that La-Z-Boy will post 2.99 EPS for the current year.

Institutional Investors Weigh In On La-Z-Boy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its stake in La-Z-Boy by 244.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 658 shares of the company's stock valued at $29,000 after buying an additional 467 shares during the last quarter. Venturi Wealth Management LLC bought a new position in La-Z-Boy in the 4th quarter valued at approximately $51,000. Johnson Financial Group Inc. increased its holdings in La-Z-Boy by 2,394.1% in the 4th quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company's stock worth $80,000 after purchasing an additional 1,628 shares in the last quarter. Bank of Montreal Can acquired a new stake in La-Z-Boy during the 4th quarter worth approximately $203,000. Finally, iSAM Funds UK Ltd bought a new stake in shares of La-Z-Boy in the fourth quarter worth $205,000. 99.62% of the stock is currently owned by institutional investors and hedge funds.

La-Z-Boy Company Profile

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures, and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, entertainment centers, and occasional pieces.

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