In yesterday’s Wall Street session, La-Z-Boy Incorporated (NYSE:LZB) shares traded at $32.02, up 3.79% 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 $30.85, this indicates a potential upside of 39.38 percent. LZB stock price is now 5.76% away from the 50-day moving average and 13.77% away from the 200-day moving average. The market capitalization of the company currently stands at $1.33B.
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.
Insiders disposed of 14,687 shares of company stock worth roughly $0.47 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 EA SERIES TRUST during the first quarter worth $4,099,000. EMPOWERED FUNDS, LLC invested $4,099,000 in shares of LZB during the first quarter. In the first quarter, AVIVA PLC acquired a new stake in La-Z-Boy Incorporated valued at approximately $1,658,000. CHATHAM CAPITAL GROUP, INC. acquired a new stake in LZB for approximately $1,529,000. ADVISORS PREFERRED, LLC purchased a new stake in LZB valued at around $1,435,000 in the second quarter. In total, there are 338 active investors with 98.92% ownership of the company’s stock.
Friday morning saw La-Z-Boy Incorporated (NYSE: LZB) opened at $31.19. During the past 12 months, La-Z-Boy Incorporated has had a low of $21.92 and a high of $33.92. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.90, and a quick ratio of 1.30. According to the stock market information, the enterprise value for the company is $1.49B, which is based on a 9.93 price-to-earnings ratio, a 1.27 price-to-earnings-growth ratio, and a beta of 1.13. The fifty day moving average price for LZB is $30.37 and a two-hundred day moving average price translates $28.17 for the stock.
The latest earnings results from La-Z-Boy Incorporated (NYSE: LZB) was released for Jul, 2023. According to the Furnishings Fixtures & Appliances Company, earnings per share came in at $0.62, beating analysts’ expectations of $0.55 by 0.07. This compares to $0.90 EPS in the same period last year. The net profit margin was 6.30% and return on equity was 15.20% for LZB. The company reported revenue of $481.65 million for the quarter, compared to $604.09 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -20.27 percent. For the current quarter, analysts expect LZB to generate $502.43M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/15/2023. Investors who held shares on 09/06/2023 were paid a $0.1815 dividend. On an annualized basis, this represents a $0.73 dividend and a 2.27% percent yield. There was an ex-dividend date of 09/05/2023 for this dividend. In terms of dividend payout ratio, LZB is presently at 21.90%.
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, entertainment centers, and occasional pieces. 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 Retail segment sells upholstered furniture, casegoods, and other accessories to the end consumer through its retail network. The company 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 headquartered in Monroe, Michigan.
