Key Points
- Insider selling: La-Z-Boy insider Terrence James Linz sold 2,500 shares on June 30 at an average price of $40.23, totaling about $100,575. After the sale, he still held 64,383 shares, reducing his stake by 3.74%.
- Stock and valuation snapshot: La-Z-Boy shares were down 0.9% and opened at $39.76, with the company carrying a market cap of $1.59 billion and trading near the middle of its 52-week range of $29.03 to $44.90.
- Fundamentals and sentiment: The company recently beat quarterly earnings estimates, reporting $1.26 EPS versus $0.82 expected, and it pays a quarterly dividend yielding 2.4%. Analyst sentiment remains Moderate Buy, though one recent note downgraded the stock to Hold.
La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) insider Terrence James Linz sold 2,500 shares of La-Z-Boy stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $40.23, for a total transaction of $100,575.00. Following the completion of the sale, the insider owned 64,383 shares in the company, valued at approximately $2,590,128.09. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
La-Z-Boy Trading Down 0.9%
Shares of NYSE LZB opened at $39.76 on Thursday. La-Z-Boy Incorporated has a 12 month low of $29.03 and a 12 month high of $44.90. The firm has a market capitalization of $1.59 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.23 and a beta of 1.25. The firm has a fifty day simple moving average of $37.09 and a two-hundred day simple moving average of $36.47.
La-Z-Boy (NYSE:LZB - Get Free Report) last announced its earnings results on Tuesday, June 16th. The company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.44. La-Z-Boy had a net margin of 4.80% and a return on equity of 11.97%. The firm had revenue of $570.34 million for the quarter, compared to analyst estimates of $569.23 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The company's revenue for the quarter was down .1% compared to the same quarter last year. On average, sell-side analysts predict that La-Z-Boy Incorporated will post 2.98 earnings per share for the current year.
La-Z-Boy Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were given a dividend of $0.242 per share. This represents a $0.97 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, June 2nd. La-Z-Boy's payout ratio is presently 39.27%.
Institutional Investors Weigh In On La-Z-Boy
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its holdings in shares of La-Z-Boy by 3.5% during the second quarter. Osaic Holdings Inc. now owns 9,258 shares of the company's stock valued at $344,000 after purchasing an additional 310 shares during the last quarter. Raymond James Financial Inc. increased its position in La-Z-Boy by 2.3% during the 3rd quarter. Raymond James Financial Inc. now owns 14,703 shares of the company's stock valued at $505,000 after buying an additional 336 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in La-Z-Boy by 0.3% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 110,619 shares of the company's stock valued at $4,126,000 after buying an additional 363 shares during the last quarter. Linden Thomas Advisory Services LLC raised its stake in La-Z-Boy by 1.8% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 20,666 shares of the company's stock valued at $770,000 after buying an additional 374 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in La-Z-Boy by 5.1% in the first quarter. PNC Financial Services Group Inc. now owns 7,827 shares of the company's stock worth $252,000 after acquiring an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 99.62% of the company's stock.
Analyst Upgrades and Downgrades
LZB has been the subject of a number of research analyst reports. Weiss Ratings upgraded La-Z-Boy from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, June 17th. Wall Street Zen cut La-Z-Boy from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.00.
View Our Latest Research Report on La-Z-Boy
La-Z-Boy Company Profile
(
Get Free Report)
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.
Further Reading
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