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

La-Z-Boy Incorporated (NYSE:LZB) has received a consensus rating of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $42.50.

Several brokerages recently issued reports on LZB. Weiss Ratings restated a “hold (c)” rating on shares of La-Z-Boy in a research note on Monday, December 22nd. Zacks Research lowered La-Z-Boy from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Needham & Company LLC restated a “buy” rating on shares of La-Z-Boy in a research note on Wednesday, December 17th. KeyCorp reaffirmed an “overweight” rating on shares of La-Z-Boy in a research report on Wednesday, December 17th. Finally, Sidoti upgraded shares of La-Z-Boy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $36.00 to $39.00 in a research note on Wednesday, November 19th.

La-Z-Boy Price Performance

NYSE:LZB opened at $35.78 on Monday. La-Z-Boy has a one year low of $29.03 and a one year high of $44.49. The company has a fifty day moving average price of $37.59 and a 200 day moving average price of $35.96. The stock has a market cap of $1.46 billion, a P/E ratio of 17.71 and a beta of 1.26.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.02. The company had revenue of $541.59 million for the quarter, compared to analyst estimates of $535.47 million. La-Z-Boy had a net margin of 3.93% and a return on equity of 10.79%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. As a group, equities research analysts anticipate that La-Z-Boy will post 2.99 EPS for the current year.

La-Z-Boy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be given a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, March 3rd. La-Z-Boy’s payout ratio is 48.02%.

Insider Transactions at La-Z-Boy

In related news, SVP Michael Adam Leggett sold 2,200 shares of the stock in a transaction dated Friday, February 20th. The shares were 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 owned 42,473 shares of the company’s stock, valued at $1,571,501. This represents a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On La-Z-Boy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its holdings in shares of La-Z-Boy by 3.3% during the second quarter. Advisors Asset Management Inc. now owns 8,675 shares of the company’s stock worth $322,000 after buying an additional 274 shares in the last quarter. Bank of Montreal Can grew its position in La-Z-Boy by 4.8% during the 2nd quarter. Bank of Montreal Can now owns 6,564 shares of the company’s stock worth $244,000 after acquiring an additional 300 shares during the last quarter. Osaic Holdings Inc. grew its position in La-Z-Boy by 3.5% during the 2nd quarter. Osaic Holdings Inc. now owns 9,258 shares of the company’s stock worth $344,000 after acquiring an additional 310 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in La-Z-Boy by 75.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 755 shares of the company’s stock valued at $26,000 after purchasing an additional 324 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in La-Z-Boy by 2.3% in the 3rd quarter. Raymond James Financial Inc. now owns 14,703 shares of the company’s stock valued at $505,000 after purchasing an additional 336 shares during the last quarter. 99.62% of the stock is currently owned by institutional investors and hedge funds.

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.