La-Z-Boy Incorporated (LZB) was Initiated by Longbow to “Neutral”. Longbow advised their investors in a research report released on Aug 5, 2016.
On the company’s financial health, La-Z-Boy Incorporated reported $0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jun 21, 2016. Analyst had a consensus of $0.48. The company had revenue of $417.07 million for the quarter, compared to analysts expectations of $416.48 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.
La-Z-Boy Incorporated opened for trading at $30 and hit $30.17 on the upside on Thursday, eventually ending the session at $30.04, with a gain of 0.20% or 0.06 points. The heightened volatility saw the trading volume jump to 2,04,678 shares. Company has a market cap of $1,470 M.
In a different news, on Jul 5, 2016, Kurt L Darrow (Chairman, President & CEO) sold 110,729 shares at $27.78 per share price. According to the SEC, on Jul 5, 2016, Mark Bacon (Senior Vice President) sold 24,504 shares at $27.34 per share price. On Jun 28, 2016, John Douglas Collier (Senior Vice President) sold 15,000 shares at $26.86 per share price, according to the Form-4 filing with the securities and exchange commission.
La-Z-Boy Incorporated manufactures markets imports distributes and retails upholstery furniture products. In addition the Company imports distributes and retails accessories and case goods (wood) furniture products. The Company operates through segments including the Upholstery segment the Casegoods segment and the Retail. Its Upholstery segment consists of two operating units: La-Z-Boy and its England subsidiary. The Upholstery segment manufactures imports and exports upholstered furniture. The Company’s Casegoods segment is an importer marketer and distributor of casegoods (wood) furniture such as bedroom sets dining room sets entertainment centers and occasional pieces and also manufactures some coordinated upholstered furniture. The Casegoods segment consists of three brands: American Drew Hammary and Kincaid. Its Retail segment consists of 110 company owned La-Z-Boy Furniture Galleries stores. The Retail segment primarily sells upholstered furniture.