KeyCorp reaffirmed their buy rating on shares of La-Z-Boy Inc. (NYSE:LZB) in a research report sent to investors on Monday. KeyCorp currently has a $28.00 price target on the stock.
Several other equities analysts also recently weighed in on LZB. Zacks Investment Research raised shares of La-Z-Boy from a sell rating to a hold rating in a research note on Tuesday, September 13th. Longbow Research began coverage on shares of La-Z-Boy in a research note on Friday, August 5th. They issued a neutral rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. La-Z-Boy has an average rating of Hold and an average target price of $30.33.
Shares of La-Z-Boy (NYSE:LZB) opened at 24.53 on Monday. The company has a 50-day moving average of $25.78 and a 200 day moving average of $27.00. The stock has a market cap of $1.21 billion, a PE ratio of 15.69 and a beta of 1.27. La-Z-Boy has a one year low of $19.56 and a one year high of $31.22.
La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Tuesday, August 23rd. The company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The business earned $340.80 million during the quarter, compared to analysts’ expectations of $358.79 million. La-Z-Boy had a return on equity of 15.01% and a net margin of 5.21%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. On average, analysts predict that La-Z-Boy will post $1.71 earnings per share for the current year.
In related news, insider Otis S. Sawyer sold 5,935 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $27.46, for a total transaction of $162,975.10. Following the completion of the sale, the insider now directly owns 62,216 shares in the company, valued at $1,708,451.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Douglas Collier sold 26,874 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $26.17, for a total transaction of $703,292.58. Following the sale, the insider now owns 98,849 shares of the company’s stock, valued at $2,586,878.33. The disclosure for this sale can be found here. Corporate insiders own 3.57% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in LZB. Nuveen Asset Management LLC boosted its stake in La-Z-Boy by 33.5% in the first quarter. Nuveen Asset Management LLC now owns 136,132 shares of the company’s stock valued at $3,640,000 after buying an additional 34,182 shares during the last quarter. HBK Investments L P boosted its stake in shares of La-Z-Boy by 204.1% in the first quarter. HBK Investments L P now owns 64,155 shares of the company’s stock worth $1,716,000 after buying an additional 43,055 shares in the last quarter. Bogle Investment Management L P DE bought a new stake in shares of La-Z-Boy during the first quarter worth $740,000. Wellington Management Group LLP boosted its stake in shares of La-Z-Boy by 2.4% in the first quarter. Wellington Management Group LLP now owns 2,175,316 shares of the company’s stock worth $58,167,000 after buying an additional 50,884 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of La-Z-Boy by 6.2% in the first quarter. Geode Capital Management LLC now owns 489,208 shares of the company’s stock worth $13,081,000 after buying an additional 28,548 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.