La-Z-Boy Incorporated (NYSE:LZB – Get Free Report) SVP Michael Adam Leggett sold 9,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $41.66, for a total transaction of $374,940.00. Following the transaction, the senior vice president owned 47,551 shares in the company, valued at $1,980,974.66. The trade was a 15.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
La-Z-Boy Price Performance
Shares of NYSE LZB opened at $41.14 on Friday. The company has a market cap of $1.64 billion, a P/E ratio of 16.66, a PEG ratio of 1.25 and a beta of 1.26. La-Z-Boy Incorporated has a 1 year low of $29.03 and a 1 year high of $44.90. The firm has a 50-day simple moving average of $36.82 and a two-hundred day simple moving average of $36.47.
La-Z-Boy (NYSE:LZB – Get Free Report) last released its earnings results on Tuesday, June 16th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.44. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.The firm had revenue of $570.34 million for the quarter, compared to analysts’ expectations of $569.23 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. As a group, equities research analysts expect that La-Z-Boy Incorporated will post 2.98 EPS for the current year.
La-Z-Boy Dividend Announcement
Institutional Trading of La-Z-Boy
Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP grew its stake in La-Z-Boy by 4,785.7% in the fourth quarter. Quarry LP now owns 684 shares of the company’s stock worth $25,000 after purchasing an additional 670 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in La-Z-Boy by 290.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock worth $33,000 after purchasing an additional 670 shares during the period. Geneos Wealth Management Inc. raised its position in La-Z-Boy by 99.0% during 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 in the last quarter. Rockefeller Capital Management L.P. raised its position in La-Z-Boy by 159.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock valued at $43,000 after purchasing an additional 713 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of La-Z-Boy by 3,130.8% in 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. Institutional investors own 99.62% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on LZB shares. Weiss Ratings upgraded La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Wall Street Zen cut shares of La-Z-Boy from a “buy” rating to a “hold” rating in a report on Saturday. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.00.
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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