Stock Investors Sell Off Shares of La-Z-Boy, Down 2.8%

Published on Mon, 02/04/2013 - 13:23
By Mallory Stone in Market movers, LZB, la-z-boy, market movers, nyse:lzb

La-Z-Boy (NYSE:LZB) is one of today's biggest movers, down 2.8% to $15.71. The Dow is down 0.8% to 13,895 and the S&P is currently down 0.9% to 1,500.

Over the past year, La-Z-Boy has traded in a range of $10.95 to $17.13 and is now at $15.71, 43% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.3%.

La-Z-Boy has overhead space with shares priced $15.71, or 16.2% below the average consensus analyst price target of $18.75. The stock should find initial support at its 50-day moving average (MA) of $14.92 and further support at its 200-day MA of $14.27.

La-Z-Boy Incorporated manufactures residential and office upholstered furniture. The Company's product lines include motion, stationary and modular seating, desks, cabinets, conference tables, dining room and bedroom furniture, and book cases. La-Z-Boy markets its products through department and furniture stores, mass merchandisers, and La-Z-Boy showcase galleries.

By Mallory Stone
mstone@fnno.com

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