Why La-Z-Boy (LZB) Shares Are Soaring Today

Shares are up close to 20%

La-Z-Boy (NYSE:LZB) shares are skyrocketing Thursday on high volume.

La-Z-BoyThe furniture chain — known for its iconic La-Z-Boy recliners — experienced high volume in trading today with an average dollar-volume (as measured by average daily share volume multiplied by share price) of $6.5 million.

The company had traded 327.729 shares as of 10:12 a.m. today, trading at 22.00 times the normal volume for the stock at that time of the day. La-Z-Boy is trading at a new high above yesterday’s close.

LZB stock currently has a dividend yield of 1.9%,with 4 analysts rating La-Z-Boy a “buy,” no analysts rate it a “sell” and 2 rate it a “hold.”The average volume for La-Z-Boy has been 338,500 shares per day over the past 30 days.

LZB stock is up 19.3% Thursday.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/02/la-z-boy-lzb/.

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