The Vanguard Group, Inc. recently announced the acquisition of new stake in La-Z-Boy Incorporated (NYSE:LZB). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.43% to 4.97 million shares with purchase of 70226.0 shares. This fresh investment now brings its stake to 11.53% valued currently at $113.46 million. In addition, Dimensional Fund Advisors LP raised its holdings by 0.13 million to 2.69 million shares. And Silvercrest Asset Management Grou has lifted its position by 0.87% or 18298.0 shares – to 2.11 million shares.
With over 0.28 million La-Z-Boy Incorporated (LZB) shares trading Friday and a closing price of $26.63 on the day, the dollar volume was approximately $7.4 million. The shares have shown a positive half year performance of 3.18% and its price on 01/13/23 gained nearly 1.14%. Currently, there are 43.10M common shares owned by the public and among those 42.71M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for LZB have a consensus price objective of $43.00. The analysts have set the share’s price value over the next 12 months at a high of $43.00 and a low of $43.00. The average price target is 38.07% above its recent price level and an upside to the estimated low will see the stock gain 38.07% over that period. But an upside of 38.07% will see the stock hit the forecast high price target while median target price for the stock is $43.00.
Insiders at the company have transacted a total of 70 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 79,588 shares. Insider sales of the common stock occurred on 39 occasions, with total insider shares sold totaling 8,938 shares.
The top 3 mutual fund holders in La-Z-Boy Incorporated are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Delaware Small Cap Core Fund. iShares Core S&P Small Cap ETF owns 3.18 million shares of the company’s stock, all valued at over $72.65 million. The company sold 2408.0 shares recently to bring their total holdings to about 7.38% of the shares outstanding. Delaware Small Cap Core Fund bought 9363.0 shares to bring its total holdings to over 1.19 million shares at a value of $27.05 million. Delaware Small Cap Core Fund now owns shares totaling to 2.75% of the shares outstanding.
Shares of La-Z-Boy Incorporated (NYSE: LZB) opened at $26.07, down -$0.26 from a prior closing price of $26.33. However, the script later moved the day high at 26.64, up 1.14%. The company’s stock has a 5-day price change of 9.09% and 14.64% over the past three months. LZB shares are trading 16.70% year to date (YTD), with the 12-month market performance down to -25.55% lower. It has a 12-month low price of $21.92 and touched a high of $37.76 over the same period. LZB has an average intraday trading volume of 342.74K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.79%, 7.62%, and 4.34% respectively.
Institutional ownership of La-Z-Boy Incorporated (NYSE: LZB) 43.10M shares outstanding. Mutual fund holders own 6.60%, while other institutional holders and individual stakeholders account for 61.24% and 36.87% respectively.
It has a market capitalization of $1.14B and a beta (3y monthly) value of 1.11. The stock’s trailing 12-month PE ratio is 6.77, while the earnings-per-share (ttm) stands at $3.94. The company has a PEG of 0.87 and a Quick Ratio of 0.90 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.74% over the week and 2.32% over the month.
Analysts forecast that La-Z-Boy Incorporated (LZB) will achieve an EPS of $0.85 for the current quarter, $0.67 for the next quarter and $3.12 for 2024. The lowest estimate earnings-per-share for the quarter is $0.84 while analysts give the company a high EPS estimate of $0.88. Comparatively, EPS for the current quarter was $0.85 a year ago. Earnings per share for the fiscal year are expected to increase by 47.60%, and -13.28% over the next financial year. EPS should shrink at an annualized rate of 7.80% over the next five years, compared to 14.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate La-Z-Boy Incorporated (LZB) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 2 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Sidoti coverage for the La-Z-Boy Incorporated (LZB) stock in a research note released on October 19, 2020 offered a Buy rating with a price target of $45. Stifel on their part issued Buy rating on February 20, 2020.