La-Z-Boy Inc. (NYSE: LZB) shares rose early today on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
KeyCorp analysts reiterated its Buy rating on La-Z-Boy Inc. (NYSE: LZB) in a note to investors, making it one of the more closely watched stocks on Wall Street. The company currently has a rating of Buy on the stock. A number of other analysts have issued reports on the company recently, and La-Z-Boy Inc. has earned a consensus one-year price target of $31.50, above the opening price of $24.82, a difference of 12.62 percent. La-Z-Boy Inc. stock has a 52-week high of $31.22. Stock prices often trend to the upside on recommendations and new price targets of professional analysts.
Meanwhile, U.S. stock futures on Monday pointed to a higher open, as investors prepared for the start of earnings season
S&P 500 futures ESZ6, +0.44% rose by 9 points, or 0.4%, to 2,155.50, while Dow Jones Industrial Average futures YMZ6, +0.40% gained 64 points, or 0.4%, to 18,221.
Nasdaq-100 futures NQZ6, +0.42% tacked on 17.75 points, or 0.4%, to 4,876.75.Meanwhile, U.S. stock futures on Monday pointed to a higher open, as investors prepared for the start of earnings season
La-Z-Boy Inc. (NYSE: LZB) shares last traded at $24.97, which represents a jump of $0.18 or 0.01 from the previous closing price. Opening at $24.82, they ranged from $24.82 and $25.06 throughout the day.
La-Z-Boy Inc. (NYSE: LZB) currently has a market cap of 1.23B.
La-Z-Boy Inc.Trading Volume
18,034 shares traded hands yesterday, below the average, out of a total float 47,974,000. Investors often use swings in trading volume to determine substantial volume accumulation or circulation by institutional investors, so trading volume is likely to increase in the next few days.
However, one day of high volume buy side trading is not enough to assert a trend. As such, market traders will continue to look for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
La-Z-Boy Inc. Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind, La-Z-Boy Inc. (NYSE: LZB) now has a 50-day MA of $26.28 and 200-day MA of $27.02. It has traded in a 52-week range between $19.56 – 31.22 and today’s last price is 0.20% lower than the 52 week high of $31.22.
Earnings growth is a crucial factor to consider when buying stocks and investors look for companies that have raised their earnings at least 25% or more for a 3 year period.
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