La-Z-Boy Incorporated (NYSE:LZB) Receives $42.50 Average PT from Analysts

La-Z-Boy Incorporated (NYSE:LZB) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $42.50.

Several research firms have commented on LZB. Wall Street Zen raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Zacks Research cut La-Z-Boy from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th.

Insider Transactions at La-Z-Boy

In other La-Z-Boy news, SVP Michael Adam Leggett sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $37.00, for a total value of $81,400.00. Following the completion of the transaction, the senior vice president directly owned 42,473 shares of the company’s stock, valued at approximately $1,571,501. The trade was a 4.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.66% of the company’s stock.

Hedge Funds Weigh In On La-Z-Boy

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in La-Z-Boy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 4,814,114 shares of the company’s stock worth $179,422,000 after buying an additional 38,513 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of La-Z-Boy by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,655,385 shares of the company’s stock worth $98,968,000 after acquiring an additional 6,901 shares during the period. Franklin Resources Inc. raised its position in shares of La-Z-Boy by 24.0% in the fourth quarter. Franklin Resources Inc. now owns 1,851,873 shares of the company’s stock worth $69,019,000 after acquiring an additional 358,945 shares during the period. LSV Asset Management boosted its stake in shares of La-Z-Boy by 0.8% during the 4th quarter. LSV Asset Management now owns 1,476,882 shares of the company’s stock worth $55,043,000 after acquiring an additional 11,983 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of La-Z-Boy by 7.2% during the 3rd quarter. American Century Companies Inc. now owns 1,434,642 shares of the company’s stock worth $49,237,000 after acquiring an additional 95,737 shares in the last quarter. 99.62% of the stock is owned by hedge funds and other institutional investors.

La-Z-Boy Price Performance

LZB opened at $35.94 on Tuesday. La-Z-Boy has a 1 year low of $29.03 and a 1 year high of $44.49. The firm has a market capitalization of $1.47 billion, a PE ratio of 17.79 and a beta of 1.28. The business’s 50-day moving average is $34.22 and its two-hundred day moving average is $35.49.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings results on Tuesday, February 17th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.02. La-Z-Boy had a return on equity of 10.79% and a net margin of 3.93%.The business had revenue of $541.59 million during the quarter, compared to the consensus estimate of $535.47 million. During the same quarter last year, the company earned $0.68 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that La-Z-Boy will post 2.61 EPS for the current year.

La-Z-Boy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, March 3rd were given a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a yield of 2.7%. The ex-dividend date was Tuesday, March 3rd. La-Z-Boy’s dividend payout ratio (DPR) is currently 48.02%.

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.