La-Z-Boy (NYSE:LZB) Rating Increased to Buy at upgraded shares of La-Z-Boy (NYSE:LZBGet Rating) from a hold rating to a buy rating in a research report released on Wednesday.

LZB has been the subject of a number of other research reports. Zacks Investment Research raised La-Z-Boy from a strong sell rating to a hold rating in a research note on Wednesday, April 20th. TheStreet lowered La-Z-Boy from a b rating to a c+ rating in a research report on Friday, March 4th. Finally, Raymond James reduced their price target on La-Z-Boy from $46.00 to $40.00 and set an outperform rating for the company in a report on Thursday, February 17th.

Shares of LZB stock opened at $25.62 on Wednesday. La-Z-Boy has a 12 month low of $25.24 and a 12 month high of $43.92. The firm has a market capitalization of $1.11 billion, a PE ratio of 8.87 and a beta of 0.99. The firm has a fifty day simple moving average of $27.48 and a two-hundred day simple moving average of $32.16.

La-Z-Boy (NYSE:LZBGet Rating) last posted its earnings results on Tuesday, February 15th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.27). The firm had revenue of $571.57 million during the quarter, compared to the consensus estimate of $563.70 million. La-Z-Boy had a return on equity of 16.93% and a net margin of 5.93%. During the same quarter in the previous year, the company earned $0.74 EPS. Research analysts anticipate that La-Z-Boy will post 2.98 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Thursday, June 2nd will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.58%. The ex-dividend date is Wednesday, June 1st. La-Z-Boy’s dividend payout ratio (DPR) is 22.84%.

A number of hedge funds have recently bought and sold shares of the business. Brown Advisory Inc. increased its position in La-Z-Boy by 12.9% during the 4th quarter. Brown Advisory Inc. now owns 1,480,275 shares of the company’s stock worth $53,748,000 after purchasing an additional 169,562 shares during the period. Yousif Capital Management LLC acquired a new position in La-Z-Boy in the fourth quarter valued at approximately $1,483,000. UBS Group AG boosted its position in shares of La-Z-Boy by 25.0% during the third quarter. UBS Group AG now owns 113,469 shares of the company’s stock worth $3,657,000 after buying an additional 22,677 shares during the period. Voloridge Investment Management LLC bought a new position in shares of La-Z-Boy in the third quarter valued at $1,470,000. Finally, Teacher Retirement System of Texas raised its stake in La-Z-Boy by 23.0% during the 3rd quarter. Teacher Retirement System of Texas now owns 7,456 shares of the company’s stock valued at $240,000 after purchasing an additional 1,395 shares during the period. 96.00% of the stock is owned by institutional investors.

About La-Z-Boy (Get Rating)

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Wholesale and Retail segments. The Wholesale segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, and entertainment centers.

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