La-Z-Boy Incorporated (NYSE:LZB – Get Free Report) insider Terrence James Linz sold 2,500 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $40.23, for a total value of $100,575.00. Following the sale, the insider owned 64,383 shares of the company’s stock, valued at approximately $2,590,128.09. This represents a 3.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
La-Z-Boy Price Performance
NYSE LZB traded down $0.36 during midday trading on Wednesday, hitting $39.76. 587,853 shares of the company traded hands, compared to its average volume of 480,350. La-Z-Boy Incorporated has a 52 week low of $29.03 and a 52 week high of $44.90. The company’s 50-day simple moving average is $37.02 and its 200-day simple moving average is $36.47. The company has a market cap of $1.59 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.22 and a beta of 1.26.
La-Z-Boy (NYSE:LZB – Get Free Report) last issued its quarterly earnings data on Tuesday, June 16th. The company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.44. The company had revenue of $570.34 million for the quarter, compared to the consensus estimate of $569.23 million. La-Z-Boy had a return on equity of 11.97% and a net margin of 4.80%.The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. On average, research analysts predict that La-Z-Boy Incorporated will post 2.98 earnings per share for the current year.
La-Z-Boy Dividend Announcement
Hedge Funds Weigh In On La-Z-Boy
A number of institutional investors have recently modified their holdings of the stock. American Century Companies Inc. raised its position in La-Z-Boy by 7.2% during the third quarter. American Century Companies Inc. now owns 1,434,642 shares of the company’s stock valued at $49,237,000 after acquiring an additional 95,737 shares in the last quarter. Vanguard Group Inc. boosted its position in La-Z-Boy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company’s stock worth $179,422,000 after purchasing an additional 38,513 shares in the last quarter. CSM Advisors LLC acquired a new stake in shares of La-Z-Boy during the 3rd quarter worth approximately $3,958,000. M&T Bank Corp acquired a new stake in shares of La-Z-Boy during the 4th quarter worth approximately $18,433,000. Finally, Rafferty Asset Management LLC increased its holdings in shares of La-Z-Boy by 124.0% during the 3rd quarter. Rafferty Asset Management LLC now owns 32,576 shares of the company’s stock valued at $1,118,000 after purchasing an additional 18,031 shares in the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on LZB. Weiss Ratings raised La-Z-Boy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Wall Street Zen lowered La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Saturday. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.
Check Out Our Latest Stock Report on LZB
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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