La-Z-Boy (NYSE:LZB) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

La-Z-Boy (NYSE:LZB) released its earnings results on Tuesday. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06), FiscalAI reports. The firm had revenue of $475.69 million during the quarter, compared to analyst estimates of $501.44 million. La-Z-Boy had a net margin of 4.80% and a return on equity of 11.97%.

La-Z-Boy Stock Down 1.3%

Shares of LZB stock traded down $0.54 on Tuesday, hitting $40.98. The company had a trading volume of 643,758 shares, compared to its average volume of 457,515. The firm has a market cap of $1.64 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. The company has a 50-day moving average price of $39.93 and a 200-day moving average price of $36.88. La-Z-Boy has a twelve month low of $29.03 and a twelve month high of $44.90.

Insider Transactions at La-Z-Boy

In other La-Z-Boy news, VP Raphaell Z. Richmond sold 13,671 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $39.83, for a total value of $544,515.93. Following the sale, the vice president owned 51,695 shares in the company, valued at approximately $2,059,011.85. This represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Terrence James Linz sold 2,500 shares of the firm’s stock in a transaction that occurred 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 sale, the insider directly owned 64,383 shares in the company, valued at $2,590,128.09. The trade was a 3.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 66,299 shares of company stock valued at $2,677,491. 3.12% of the stock is owned by insiders.

Hedge Funds Weigh In On La-Z-Boy

A number of hedge funds have recently bought and sold shares of LZB. Quarry LP increased its position in shares of La-Z-Boy by 4,785.7% in the fourth quarter. Quarry LP now owns 684 shares of the company’s stock valued at $25,000 after buying an additional 670 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of La-Z-Boy by 290.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after buying an additional 670 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in 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 acquiring an additional 567 shares during the period. CIBC Private Wealth Group LLC grew its stake in 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 valued at $43,000 after acquiring an additional 1,221 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in La-Z-Boy in the 4th quarter worth $54,000. Hedge funds and other institutional investors own 99.62% of the company’s stock.

Analyst Ratings Changes

LZB has been the subject of a number of research reports. Wall Street Zen cut La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings raised La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, La-Z-Boy has a consensus rating of “Moderate Buy” and an average target price of $39.00.

La-Z-Boy Company Profile

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.