Analysts at Zacks Investment Research upgraded shares of La-Z-Boy Inc. (NYSE: LZB) from Sell to Hold on Tuesday, September 13. A number of other analysts have commented on the stock recently, and the company has earned a consensus one-year price target of $31.50 , higher than the opening price of $25.95. Usually, after analysts publish an upgrade report on a stock, they will subsequently issue other updates, such as price target changes.
U.S. stocks finished higher on Monday as investor fears for an interest rate hike subsided after Federal Reserve Board Governor Lael Brainard urged caution about removing monetary stimulus too quickly.
The Dow Jones Industrial Average DJIA, +1.32% surged 239.62 points, or 1.3%, to close at 18,325.07, after jumping as high as 273 points.
The S&P 500 SPX, +1.47% rose 31.23 points, or 1.5%, to finish at 2,159.04, with all sectors closing in positive territory.
Meanwhile, the Nasdaq Composite Index COMP, +1.68% finished up 85.98 points, or 1.7%, at 5,211.89, propelled by a rally in biotechnology shares
Shares of La-Z-Boy Inc. (NYSE: LZB) opened at $25.95 and traded in a range between, $25.79 and $26.15 on Friday, and last traded at $25.82, which represents a change of $ -0.29 over the previous closing price. La-Z-Boy Inc.has a 52-week high of $31.22
La-Z-Boy Inc. (NYSE: LZB) now has a market cap of 1.27B
The stocks average daily volume is 416,122 shares out of a total float 47,951,000 of and some 29,117 shares traded hands yesterday, 89 percent lower than normal. Look for trading volume to pick up in the coming days as investors often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind La-Z-Boy Inc. (NYSE: LZB) now has a 50-day MA is $28.89 and 200-day MA is $27.07, and it has traded in a 52-week range between $19.56 – 31.22 and the last closing price is -0.17 percent off the 52 week high.
Earnings growth is an important factor to look at when buying stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.
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