La-Z-Boy (LZB) Downgraded by ValuEngine

ValuEngine lowered shares of La-Z-Boy (NYSE:LZB) from a buy rating to a hold rating in a report released on Tuesday.

A number of other equities analysts have also recently weighed in on the company. Stifel Nicolaus reissued a hold rating on shares of La-Z-Boy in a report on Friday, December 1st. KeyCorp reissued a buy rating and set a $36.00 price objective on shares of La-Z-Boy in a report on Friday, November 10th. Finally, Zacks Investment Research raised La-Z-Boy from a strong sell rating to a hold rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. La-Z-Boy presently has a consensus rating of Hold and an average target price of $33.00.

Shares of La-Z-Boy (NYSE:LZB) traded up $0.60 during midday trading on Tuesday, hitting $31.55. The company had a trading volume of 196,100 shares, compared to its average volume of 247,900. The stock has a market cap of $1,470.00, a PE ratio of 18.13 and a beta of 1.03. La-Z-Boy has a 52 week low of $23.15 and a 52 week high of $34.25.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings data on Wednesday, November 29th. The company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. The company had revenue of $393.20 million for the quarter, compared to analysts’ expectations of $390.03 million. La-Z-Boy had a return on equity of 14.33% and a net margin of 5.53%. La-Z-Boy’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $0.42 EPS. equities analysts forecast that La-Z-Boy will post 1.78 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Monday, December 11th were paid a $0.12 dividend. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Friday, December 8th. La-Z-Boy’s payout ratio is 27.59%.

In other La-Z-Boy news, insider John Douglas Collier sold 4,000 shares of La-Z-Boy stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $31.71, for a total value of $126,840.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Otis S. Sawyer sold 12,000 shares of La-Z-Boy stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $31.51, for a total value of $378,120.00. Following the completion of the transaction, the senior vice president now directly owns 60,238 shares in the company, valued at $1,898,099.38. The disclosure for this sale can be found here. 3.17% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank bought a new stake in shares of La-Z-Boy in the 3rd quarter worth approximately $135,000. Ameritas Investment Partners Inc. grew its position in shares of La-Z-Boy by 7.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,240 shares of the company’s stock worth $138,000 after buying an additional 290 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of La-Z-Boy by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,999 shares of the company’s stock worth $162,000 after buying an additional 747 shares during the last quarter. Amalgamated Bank bought a new stake in shares of La-Z-Boy in the 2nd quarter worth approximately $217,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of La-Z-Boy in the 3rd quarter worth approximately $254,000. 86.37% of the stock is currently owned by institutional investors and hedge funds.

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La-Z-Boy Company Profile

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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