La-Z-Boy (NYSE:LZB) Sees Large Volume Increase

Shares of La-Z-Boy Incorporated (NYSE:LZBGet Rating) saw strong trading volume on Friday . 64,973 shares traded hands during trading, a decline of 88% from the previous session’s volume of 544,862 shares.The stock last traded at $27.26 and had previously closed at $27.49.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Raymond James restated an “outperform” rating and set a $32.00 price objective (down previously from $40.00) on shares of La-Z-Boy in a report on Friday, June 24th. StockNews.com upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a report on Wednesday, May 11th.

La-Z-Boy Price Performance

The firm has a market cap of $1.21 billion, a P/E ratio of 8.17 and a beta of 0.98. The stock’s 50 day moving average is $25.16 and its two-hundred day moving average is $28.01.

La-Z-Boy (NYSE:LZBGet Rating) last posted its earnings results on Tuesday, June 21st. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. The business had revenue of $684.57 million for the quarter, compared to analysts’ expectations of $668.85 million. La-Z-Boy had a net margin of 6.37% and a return on equity of 17.59%. As a group, research analysts forecast that La-Z-Boy Incorporated will post 3.13 EPS for the current fiscal year.

La-Z-Boy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Thursday, June 2nd were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $0.66 dividend on an annualized basis and a yield of 2.37%. La-Z-Boy’s payout ratio is currently 19.35%.

Institutional Trading of La-Z-Boy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. William Blair Investment Management LLC boosted its position in La-Z-Boy by 79.5% in the first quarter. William Blair Investment Management LLC now owns 1,315,512 shares of the company’s stock valued at $34,690,000 after buying an additional 582,547 shares in the last quarter. First Trust Advisors LP boosted its position in La-Z-Boy by 155.8% in the first quarter. First Trust Advisors LP now owns 506,393 shares of the company’s stock valued at $13,354,000 after buying an additional 308,461 shares in the last quarter. Victory Capital Management Inc. boosted its position in La-Z-Boy by 129.3% in the first quarter. Victory Capital Management Inc. now owns 440,594 shares of the company’s stock valued at $11,580,000 after buying an additional 248,485 shares in the last quarter. Vanguard Group Inc. boosted its position in La-Z-Boy by 4.9% in the first quarter. Vanguard Group Inc. now owns 4,991,590 shares of the company’s stock valued at $131,629,000 after buying an additional 233,569 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in La-Z-Boy by 15.0% in the first quarter. Brown Advisory Inc. now owns 1,701,943 shares of the company’s stock valued at $45,294,000 after buying an additional 221,668 shares in the last quarter. Institutional investors own 96.00% of the company’s stock.

La-Z-Boy Company Profile

(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, Retail, Corporate and Other 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.

Further Reading

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