This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

What's Making La-Z-Boy (LZB) Jump?

NEW YORK (TheStreet) -- La-Z-Boy (LZB - Get Report) was gaining in after-hours trading after the producer of reclining shares posted fiscal second-quarter earnings that beat analyst forecasts. The manufacturer reported net income of 31 cents a share, surpassing a consensus estimate by a nickel.

La-Z-Boy posted 366.4 million in revenue for the three-month period ended Sept. 30. Analysts surveyed by Thomson Reuters had anticipated revenue of $349.4 million.

Gross sales increased 13.7% on a year-over-year basis, boosted by retail sales growth of 19.9% and the wholesale upholstery segment's 14.2% increase. Same-store sales for La-Z-Boy Furniture Galleries network were up 9.8% compared to the year-ago quarter.

"We believe our positive sales trajectory is indicative of continued market share gains, and with the strength of the La‑Z‑Boy brand, our vast distribution network and our lean manufacturing structure, we are well positioned for future profitable growth," said CEO Kurt L. Darrow in a statement.

The Monroe, Michigan-based business also announced it had increased its quarterly dividend 50% to 6 cents a share.

Must Read: These Solar Stocks Suffered Burnout Tuesday

In post-market trading, shares had gained 6.3% to $25.95. Year to date, the stock has climbed 72.6%.

TheStreet Ratings team rates La-Z-Boy Inc as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate La-Z-Boy Inc (LZB) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company shows low profit margins."

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
LZB $26.66 0.00%
AAPL $110.38 0.00%
FB $92.07 0.00%
GOOG $626.91 0.00%
TSLA $247.57 0.00%


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs