In yesterday’s Wall Street session, La-Z-Boy Incorporated (NYSE:LZB) shares traded at $28.65, down -1.85% from the previous session.
As of this writing, 3 analysts cover La-Z-Boy Incorporated (NYSE:LZB). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $43.00 and a low of $43.00, we find $43.00. Given the previous closing price of $29.19, this indicates a potential upside of 47.31 percent. LZB stock price is now 1.39% away from the 50-day moving average and 9.95% away from the 200-day moving average. The market capitalization of the company currently stands at $1.25B.
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There are 2 analysts who have given it a hold rating, whereas 1 have given it a buy rating. Brokers who have rated the stock have averaged $43.00 as their price target over the next twelve months.
On October 19, 2020, Sidoti Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock keeping its target price maintained at $45, while ‘CFRA’ rates the stock as ‘Hold’.
Insiders disposed of 10,571 shares of company stock worth roughly $0.3 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LZB stock. A new stake in La-Z-Boy Incorporated shares was purchased by TWINBEECH CAPITAL LP during the first quarter worth $2,832,000. HRT FINANCIAL LP invested $2,743,000 in shares of LZB during the first quarter. In the first quarter, CHIMERA CAPITAL MANAGEMENT LLC acquired a new stake in La-Z-Boy Incorporated valued at approximately $1,081,000. LOMBARD ODIER ASSET MANAGEMENT (USA) CORP acquired a new stake in LZB for approximately $1,002,000. LEGATO CAPITAL MANAGEMENT LLC purchased a new stake in LZB valued at around $894,000 in the second quarter.
Wednesday morning saw La-Z-Boy Incorporated (NYSE: LZB) opened at $28.52. During the past 12 months, La-Z-Boy Incorporated has had a low of $21.92 and a high of $33.06. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.70, and a quick ratio of 1.10. The fifty day moving average price for LZB is $28.37 and a two-hundred day moving average price translates $26.07 for the stock.
The latest earnings results from La-Z-Boy Incorporated (NYSE: LZB) was released for Oct, 2022. According to the Furnishings Fixtures & Appliances Company, earnings per share came in at $1.05, beating analysts’ expectations of $0.85 by 0.2. This compares to $0.66 EPS in the same period last year. The net profit margin was 7.00% and return on equity was 20.30% for LZB. The company reported revenue of $572.72 million for the quarter, compared to $571.57 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.2 percent. For the current quarter, analysts expect LZB to generate $529.88M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/15/2023. Investors who held shares on 03/07/2023 were paid a $0.1815 dividend. On an annualized basis, this represents a $0.73 dividend and a 2.53% percent yield. There was an ex-dividend date of 03/06/2023 for this dividend. In terms of dividend payout ratio, LZB is presently at 12.70%.
La-Z-Boy Incorporated(LZB) Company Profile
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. This segment sells its products directly to La-Z-Boy Furniture Galleries stores, operators of La-Z-Boy Comfort Studio locations, England Custom Comfort Center locations, dealers, and other independent retailers. The company’s Retail segment sells upholstered furniture, casegoods, and other accessories to the end consumer through its retail network. This segment operates a network of 161 company-owned La-Z-Boy Furniture Galleries stores. La-Z-Boy Incorporated also produces reclining chairs; and manufactures and distributes residential furniture. Its Corporate and Other segment sells the products through its website. The company was formerly known as La-Z-Boy Chair Company and changed its name to La-Z-Boy Incorporated in 1996. La-Z-Boy Incorporated was founded in 1927 and is based in Monroe, Michigan.
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