La-Z-Boy Incorporated (NYSE:LZB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

La-Z-Boy Incorporated (NYSE:LZB) has received an average recommendation of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $39.00.

A number of brokerages recently weighed in on LZB. Weiss Ratings raised shares of La-Z-Boy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Wall Street Zen upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Sunday.

Insider Transactions at La-Z-Boy

In other news, CAO Jennifer Lynn Mccurry sold 3,715 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $41.05, for a total transaction of $152,500.75. Following the transaction, the chief accounting officer owned 16,763 shares of the company’s stock, valued at approximately $688,121.15. This trade represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Melinda D. Whittington sold 7,364 shares of La-Z-Boy stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $40.00, for a total value of $294,560.00. Following the completion of the transaction, the chief executive officer owned 415,061 shares of the company’s stock, valued at approximately $16,602,440. The trade was a 1.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 66,299 shares of company stock valued at $2,677,491 over the last ninety days. 2.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in shares of La-Z-Boy by 208.8% in the third quarter. Franklin Resources Inc. now owns 1,492,928 shares of the company’s stock valued at $51,237,000 after purchasing an additional 1,009,428 shares during the period. M&T Bank Corp acquired a new stake in La-Z-Boy in the 4th quarter valued at approximately $18,433,000. Goldman Sachs Group Inc. raised its stake in La-Z-Boy by 100.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 627,638 shares of the company’s stock valued at $23,392,000 after acquiring an additional 313,932 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in La-Z-Boy by 46.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 895,003 shares of the company’s stock valued at $33,357,000 after acquiring an additional 283,364 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in La-Z-Boy by 64.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 391,470 shares of the company’s stock worth $14,551,000 after acquiring an additional 153,498 shares during the period. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Performance

La-Z-Boy stock traded down $0.10 during trading on Friday, hitting $39.80. The company’s stock had a trading volume of 323,415 shares, compared to its average volume of 824,042. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 1.22 and a beta of 1.25. The stock’s fifty day moving average is $37.24 and its 200 day moving average is $36.50. La-Z-Boy has a 1-year low of $29.03 and a 1-year high of $44.90.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings results on Tuesday, June 16th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.82 by $0.44. The firm had revenue of $570.34 million during the quarter, compared to analyst estimates of $569.23 million. La-Z-Boy had a net margin of 4.80% and a return on equity of 11.97%. La-Z-Boy’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. On average, research analysts anticipate that La-Z-Boy will post 2.98 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were issued a $0.242 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.97 dividend on an annualized basis and a yield of 2.4%. La-Z-Boy’s dividend payout ratio is currently 39.27%.

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.