Longbow Research Initiates Coverage on La-Z-Boy Incorporated to Neutral

Longbow Research Initiates Coverage on La-Z-Boy Incorporated(NYSE:LZB). The shares have been rated Neutral. The rating by Longbow Research was issued on Aug 5, 2016.

La-Z-Boy Incorporated (LZB) shares turned negative on Wednesdays trading session with the shares closing down -0.43 points or -1.43% at a volume of 6,21,912. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $30.16. The peak price level was also seen at $30.16 while the days lowest was $29.64. Finally the shares closed at $29.7. The 52-week high of the shares is $30.59 while the 52-week low is $19.56. According to the latest information available, the market cap of the company is $1,453 M.

La-Z-Boy Incorporated(LZB) last announced its earnings results on Jun 21, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $417.07M. Analysts had an estimated revenue of $416.48M. Earnings per share were $0.52. Analysts had estimated an EPS of $0.48.

Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Kurt L Darrow (Chairman, President & CEO) sold 110,729 shares at $27.78 per share price.Also, 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.

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