Alliancebernstein L.P. Has $2.05 Million Position in La-Z-Boy Incorporated (LZB)

Alliancebernstein L.P. cut its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 9.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 63,154 shares of the company’s stock after selling 6,500 shares during the quarter. Alliancebernstein L.P. owned approximately 0.13% of La-Z-Boy worth $2,053,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in La-Z-Boy during the first quarter worth about $107,000. Point72 Asia Hong Kong Ltd purchased a new position in La-Z-Boy during the first quarter worth about $110,000. Victory Capital Management Inc. boosted its holdings in La-Z-Boy by 39.6% during the first quarter. Victory Capital Management Inc. now owns 4,252 shares of the company’s stock worth $115,000 after purchasing an additional 1,206 shares during the last quarter. First Quadrant L P CA purchased a new position in La-Z-Boy during the second quarter worth about $167,000. Finally, Cigna Investments Inc. New purchased a new position in La-Z-Boy during the second quarter worth about $218,000. Institutional investors and hedge funds own 86.78% of the company’s stock.

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Several research analysts recently weighed in on LZB shares. BidaskClub cut shares of La-Z-Boy from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Stifel Nicolaus cut their price target on shares of La-Z-Boy from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, August 24th. Sidoti cut shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a report on Tuesday, August 1st. Finally, Zacks Investment Research cut shares of La-Z-Boy from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $31.50.

La-Z-Boy Incorporated (NYSE:LZB) opened at 27.40 on Tuesday. The firm has a 50-day moving average of $25.71 and a 200-day moving average of $28.49. The stock has a market capitalization of $1.32 billion, a PE ratio of 16.18 and a beta of 0.89. La-Z-Boy Incorporated has a 1-year low of $22.09 and a 1-year high of $34.10.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Tuesday, August 22nd. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The firm had revenue of $357.10 million for the quarter, compared to the consensus estimate of $359.34 million. La-Z-Boy had a net margin of 5.45% and a return on equity of 14.18%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. Equities analysts expect that La-Z-Boy Incorporated will post $1.73 EPS for the current fiscal year.

La-Z-Boy announced that its board has authorized a share repurchase plan on Tuesday, June 20th that permits the company to buyback 6,000,000 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

La-Z-Boy Profile

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood

Other institutional investors have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in La-Z-Boy during the first quarter worth about $107,000. Point72 Asia Hong Kong Ltd purchased a new position in La-Z-Boy during the first quarter worth about $110,000. Victory Capital Management Inc. boosted its holdings in La-Z-Boy by 39.6% during the first quarter. Victory Capital Management Inc. now owns 4,252 shares of the company’s stock worth $115,000 after purchasing an additional 1,206 shares during the last quarter. First Quadrant L P CA purchased a new position in La-Z-Boy during the second quarter worth about $167,000. Finally, Cigna Investments Inc. New purchased a new position in La-Z-Boy during the second quarter worth about $218,000. Institutional investors and hedge funds own 86.78% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This news story was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US & international trademark and copyright law. The legal version of this news story can be accessed at https://ledgergazette.com/2017/10/17/alliancebernstein-l-p-has-2-05-million-position-in-la-z-boy-incorporated-lzb.html.

Several research analysts recently weighed in on LZB shares. BidaskClub cut shares of La-Z-Boy from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Stifel Nicolaus cut their price target on shares of La-Z-Boy from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, August 24th. Sidoti cut shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a report on Tuesday, August 1st. Finally, Zacks Investment Research cut shares of La-Z-Boy from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $31.50.

La-Z-Boy Incorporated (NYSE:LZB) opened at 27.40 on Tuesday. The firm has a 50-day moving average of $25.71 and a 200-day moving average of $28.49. The stock has a market capitalization of $1.32 billion, a PE ratio of 16.18 and a beta of 0.89. La-Z-Boy Incorporated has a 1-year low of $22.09 and a 1-year high of $34.10.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Tuesday, August 22nd. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The firm had revenue of $357.10 million for the quarter, compared to the consensus estimate of $359.34 million. La-Z-Boy had a net margin of 5.45% and a return on equity of 14.18%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. Equities analysts expect that La-Z-Boy Incorporated will post $1.73 EPS for the current fiscal year.

La-Z-Boy announced that its board has authorized a share repurchase plan on Tuesday, June 20th that permits the company to buyback 6,000,000 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

La-Z-Boy Profile

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.

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Institutional Ownership by Quarter for La-Z-Boy (NYSE:LZB)

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