Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. La-Z-Boy Incorporated shares valued at $2,529,520 were sold by DARROW KURT L on Dec 30. At $36.14 per share, DARROW KURT L sold 70,000 shares. The insider’s holdings dropped to 98,713 shares worth approximately $2.42 million following the completion of this transaction.
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Also, DARROW KURT L sold 26,895 shares, netting a total of over 965,436 in proceeds. Following the sale of shares at $35.90 each, the insider now holds 168,713 shares.
Before that, DARROW KURT L had sold 43,105 shares from its account. In a trade valued at $1,552,961, the Director traded La-Z-Boy Incorporated shares for $36.03 each. Upon closing the transaction, the insider’s holdings decreased to 43,105 shares, worth approximately $4.8 million.
As published in a research note from Sidoti on October 19, 2020, La-Z-Boy Incorporated [LZB] has been rated up from a Neutral to a Buy and the price target has been revised to $45. This represents a 45.51% premium over Wednesday’s closing price. Analysts at Sidoti upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early March. As of February 25, 2020, CFRA has increased its “Sell” rating to a “Hold” for LZB. Earlier on February 20, 2020, Stifel upgraded its rating. Their new recommendation was “a Buy” for LZB stock which previously was a “a Hold”.
Analyzing LZB’s Price Performance
On Wednesday, La-Z-Boy Incorporated [NYSE: LZB] rose 7.88% to $24.52. The stock’s lowest price that day was $22.89, but it reached a high of $24.98 in the same session. During the last five days, there has been a surge of approximately 4.12%. Over the course of the year, La-Z-Boy Incorporated shares have dropped approximately -32.47%. Shares of the company reached a 52-week high of $38.16 on 01/04/22 and a 52-week low of $22.21 on 06/16/22. A 50-day SMA is recorded $25.81, while a 200-day SMA reached $31.36. Nevertheless, trading volume fell to 2.93 million shares from 1.67 million shares the previous day.
Support And Resistance Levels for La-Z-Boy Incorporated (LZB)
According to the 24-hour chart, there is a support level at 23.28, which, if violated, would cause prices to drop to 22.04. In the upper region, resistance lies at 25.37. The next price resistance is at 26.22. RSI (Relative Strength Index) is 48.67 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.95, which suggests the price will decrease in the coming days. Percent R is at 40.39%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of La-Z-Boy Incorporated (LZB)?
According to BlackRock Fund Advisors filings, the company currently owns 6,561,171 shares, which is about 15.18% of the total LZB shares outstanding. The investor’s shares have plunged by -34,657 from its previous 13-F filing of 6595828.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $125,290,313. Dimensional Fund Advisors LP acquire a 1.33% interest valued at $62.46 million while Silvercrest Asset Management Grou purchased a 86,213 stake. A total of 221,668 shares of La-Z-Boy Incorporated were bought by Brown Advisory LLC during the quarter, and 46,302 were bought by SSgA Funds Management, Inc. In its current portfolio, Macquarie Investment Management B holds 1,580,101 shares valued at $40.34 million.
In terms of La-Z-Boy Incorporated share price expectations, FactSet research, analysts set an average price target of $46.00 in the next 12 months, up nearly 102.38% from the previous closing price of $22.73. Analysts anticipate La-Z-Boy Incorporated stock to reach $46.00 by 2022, with the lowest price target being $46.00. In spite of this, 2 analysts ranked La-Z-Boy Incorporated stock as an Overweight at the end of 2022. On August 23, 2019, Raymond James assigned a price target of “an Outperform” to the stock and upgraded coverage with a $36.