La-Z-Boy (NYSE:LZB) was downgraded by investment analysts at Sidoti from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, June 6th, Marketbeat reports. They presently have a $35.00 price target on the stock, down from their previous price target of $38.00. Sidoti’s price objective would indicate a potential upside of 14.16% from the company’s current price.
Several other equities research analysts also recently commented on the company. Zacks Investment Research downgraded La-Z-Boy from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. ValuEngine cut La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. La-Z-Boy presently has a consensus rating of “Hold” and a consensus price target of $36.67.
Shares of NYSE:LZB traded down $0.16 on Thursday, hitting $30.66. 598,849 shares of the company traded hands, compared to its average volume of 372,517. La-Z-Boy has a 52 week low of $25.30 and a 52 week high of $39.15. The business has a 50 day moving average price of $31.83. The company has a market capitalization of $1.42 billion, a P/E ratio of 14.33 and a beta of 0.88.
A number of large investors have recently made changes to their positions in the business. Penserra Capital Management LLC purchased a new position in shares of La-Z-Boy during the 1st quarter valued at about $28,000. FTB Advisors Inc. purchased a new position in La-Z-Boy in the 1st quarter worth approximately $30,000. NumerixS Investment Technologies Inc purchased a new position in La-Z-Boy in the 1st quarter worth approximately $94,000. Starr International Co. Inc. purchased a new position in La-Z-Boy in the 1st quarter worth approximately $186,000. Finally, CIBC Asset Management Inc purchased a new position in La-Z-Boy in the 1st quarter worth approximately $202,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.
La-Z-Boy 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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.
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