Royce & Associates LP Buys New Holdings in La-Z-Boy Incorporated (NYSE:LZB)

Royce & Associates LP purchased a new stake in La-Z-Boy Incorporated (NYSE:LZB) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 11,271 shares of the company’s stock, valued at approximately $441,000.

A number of other hedge funds have also recently modified their holdings of LZB. TD Private Client Wealth LLC raised its holdings in La-Z-Boy by 22.8% during the first quarter. TD Private Client Wealth LLC now owns 1,355 shares of the company’s stock worth $53,000 after purchasing an additional 252 shares during the last quarter. Johnson Financial Group Inc. raised its holdings in La-Z-Boy by 2,394.1% in the 4th quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company’s stock valued at $80,000 after acquiring an additional 1,628 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of La-Z-Boy in the fourth quarter worth approximately $203,000. iSAM Funds UK Ltd acquired a new stake in La-Z-Boy during the fourth quarter worth about $205,000. Finally, Bridgefront Capital LLC purchased a new stake in La-Z-Boy during the 4th quarter worth $214,000. 99.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on LZB. KeyCorp upgraded La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 price target for the company in a research note on Friday, April 25th. Wall Street Zen downgraded shares of La-Z-Boy from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd.

La-Z-Boy Stock Performance

Shares of LZB stock opened at $37.39 on Wednesday. The firm has a fifty day moving average of $39.42 and a 200-day moving average of $41.08. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 15.84 and a beta of 1.26. La-Z-Boy Incorporated has a 52-week low of $35.18 and a 52-week high of $48.31.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Tuesday, June 17th. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.01). La-Z-Boy had a net margin of 4.72% and a return on equity of 12.08%. The firm had revenue of $570.87 million during the quarter, compared to analyst estimates of $557.44 million. During the same quarter last year, the firm earned $0.95 earnings per share. La-Z-Boy’s quarterly revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts predict that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

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 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.