Sidoti Reiterates Neutral Rating on La-Z-Boy (LZB)

Sidoti analyst Anthony Lebiedzinski reiterated a Neutral rating and $46.00 price target on La-Z-Boy (NYSE: LZB).

The analyst comments "Last night, LZB announced the acquisition of 15 La-Z-Boy dealer stores and four warehouses from Atlanta Furniture Galleries, LLC, owned by Tom and Amy DeGoey. This transaction, set to close in October, is the biggest dealer store acquisition ever for LZB. We view the acquisition favorably as it will strengthen the company’s retail store network in Georgia, Florida and Tennessee (all demographically advantaged states) and add approximately $40 million in consolidated annual sales."

For an analyst ratings summary and ratings history on La-Z-Boy click here. For more ratings news on La-Z-Boy click here.

Shares of La-Z-Boy closed at $38.70 yesterday.

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