La-Z-Boy Incorporated (NYSE:LZB) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 1,005 call options on the stock. This is an increase of 1,004% compared to the typical daily volume of 91 call options.
NYSE:LZB opened at $37.34 on Thursday. The stock’s 50 day simple moving average is $42.84. La-Z-Boy has a one year low of $25.53 and a one year high of $46.74. The firm has a market cap of $1.73 billion, a P/E ratio of 24.57 and a beta of 1.11.
La-Z-Boy (NYSE:LZB) last posted its earnings results on Monday, June 14th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.74 by $0.13. La-Z-Boy had a net margin of 4.50% and a return on equity of 13.98%. The business had revenue of $519.50 million for the quarter, compared to the consensus estimate of $498.53 million. During the same period last year, the company earned $0.49 EPS. The firm’s revenue was up 41.4% compared to the same quarter last year. Analysts predict that La-Z-Boy will post 2.5 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, May 28th. This represents a $0.60 annualized dividend and a yield of 1.61%. La-Z-Boy’s dividend payout ratio is presently 27.78%.
Several hedge funds and other institutional investors have recently modified their holdings of LZB. Morgan Stanley lifted its position in shares of La-Z-Boy by 539.0% in the 4th quarter. Morgan Stanley now owns 966,062 shares of the company’s stock worth $38,487,000 after purchasing an additional 814,871 shares during the period. Glenmede Trust Co. NA grew its stake in shares of La-Z-Boy by 57,373.7% in the 4th quarter. Glenmede Trust Co. NA now owns 463,813 shares of the company’s stock worth $18,478,000 after acquiring an additional 463,006 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of La-Z-Boy by 101.2% in the 4th quarter. Brown Advisory Inc. now owns 916,349 shares of the company’s stock worth $36,508,000 after acquiring an additional 460,804 shares in the last quarter. Norges Bank bought a new stake in shares of La-Z-Boy in the 4th quarter worth $16,187,000. Finally, Lazard Asset Management LLC bought a new stake in shares of La-Z-Boy in the 4th quarter worth $15,155,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.
Several equities research analysts recently issued reports on the stock. TheStreet raised shares of La-Z-Boy from a “c+” rating to a “b” rating in a report on Wednesday, February 17th. Zacks Investment Research raised shares of La-Z-Boy from a “sell” rating to a “hold” rating in a report on Tuesday, March 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. La-Z-Boy currently has a consensus rating of “Buy” and a consensus target price of $43.00.
About La-Z-Boy
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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