La-Z-Boy Incorporated (LZB)’s Stock Is Buy After Forming Bullish Double Top Chart Pattern

June 14, 2018 - By Vivian Currie

La-Z-Boy Incorporated (NYSE:LZB) Logo

Investors sentiment increased to 1.11 in Q1 2018. Its up 0.03, from 1.08 in 2017Q4. It is positive, as 15 investors sold La-Z-Boy Incorporated shares while 64 reduced holdings. 36 funds opened positions while 52 raised stakes. 39.96 million shares or 0.33% more from 39.83 million shares in 2017Q4 were reported.
Amalgamated Bank invested in 0.01% or 6,701 shares. Bluemountain Ltd Co has invested 0.03% in La-Z-Boy Incorporated (NYSE:LZB). Gabelli Funds Llc stated it has 176,000 shares or 0.03% of all its holdings. Macquarie Grp Ltd reported 5,900 shares stake. Texas Permanent School Fund owns 0.01% invested in La-Z-Boy Incorporated (NYSE:LZB) for 31,160 shares. The New York-based Mutual Of America Mgmt Ltd has invested 0% in La-Z-Boy Incorporated (NYSE:LZB). Ameriprise Financial, Minnesota-based fund reported 627,565 shares. Price T Rowe Associate Md owns 25,981 shares for 0% of their portfolio. Wells Fargo & Co Mn accumulated 88,897 shares or 0% of the stock. Citigroup has invested 0% of its portfolio in La-Z-Boy Incorporated (NYSE:LZB). Panagora Asset Management Inc has 414,343 shares for 0.05% of their portfolio. Pinebridge Invs L P reported 50,913 shares. Geode Cap Mngmt Limited Liability holds 618,195 shares. Voya Inv Management has invested 0.01% in La-Z-Boy Incorporated (NYSE:LZB). Connecticut-based Zebra Mngmt Ltd Liability Co has invested 0.27% in La-Z-Boy Incorporated (NYSE:LZB).

Since February 22, 2018, it had 0 insider buys, and 1 insider sale for $2.09 million activity.

The chart of La-Z-Boy Incorporated (LZB) shows a double top with $35.15 target or 7.00 % above today’s $32.85 share price. The 7 months chart pattern indicates low risk for the $1.55 billion company. It was reported on Jun, 14 by Finviz.com. If the $35.15 price target is reached, the company will be worth $108.22M more. Double tops are rare but powerful chart patterns.

The stock decreased 0.76% or $0.25 during the last trading session, reaching $32.85. About 162,903 shares traded. La-Z-Boy Incorporated (NYSE:LZB) has risen 17.59% since June 14, 2017 and is uptrending. It has outperformed by 5.02% the S&P500.

Analysts await La-Z-Boy Incorporated (NYSE:LZB) to report earnings on June, 19 after the close. They expect $0.64 EPS, up 12.28 % or $0.07 from last year’s $0.57 per share. LZB’s profit will be $30.12 million for 12.83 P/E if the $0.64 EPS becomes a reality. After $0.45 actual EPS reported by La-Z-Boy Incorporated for the previous quarter, Wall Street now forecasts 42.22 % EPS growth.

More news for La-Z-Boy Incorporated (NYSE:LZB) were recently published by: Globenewswire.com, which released: “La-Z-Boy Announces Appointment of New CFO” on May 24, 2018. Globenewswire.com‘s article titled: “La-Z-Boy Announces Fiscal 2018 Fourth-Quarter and Year-End Conference Call” and published on June 07, 2018 is yet another important article.

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. The company has market cap of $1.55 billion. It operates through Upholstery, Casegoods, and Retail divisions. It has a 21.41 P/E ratio. The Upholstery segment makes and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.

La-Z-Boy Incorporated (NYSE:LZB) Institutional Positions Chart

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