Furniture retailer La-Z-Boy (LZB) rose 14.8% intraday on June 17, after it reported a better-than-expected quarterly result. The company has bucked the trend of store closures by aggressively adding stores in the last quarter. In fact, in its last fiscal year, the company carried out the most aggressive expansion in its nearly 100-year history.
Post earnings, sentiment is running high around the stock, despite quarterly sales remaining flat. Data shows that only 4.13% of its float is shorted, with a 1.93-day short interest ratio. These do not necessarily signal warning signs. However, LZB also has a 61.54% off-exchange short volume ratio, including its “dark pool” volume.
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This metric measures the volume of short-sold shares executed outside lit exchanges, such as the NYSE or Nasdaq, typically in alternative trading systems (ATS) called “dark pools.” The ratio shows the share of total off-exchange trading volume is derived from short sales. While not a clear indicator, a high off-exchange short-volume ratio indicates significant institutional participation in short positions.
About La-Z-Boy Stock
La-Z-Boy is a vertically integrated furniture retailer and manufacturer specializing in comfortable, custom upholstered home furniture. The company operates through three segments: Retail company-owned Furniture Galleries, Wholesale manufacturing of upholstered sofas and recliners for retail channels, and e-commerce, including Joybird, a modern furniture retailer. The company is headquartered in Monroe, Michigan and has a market capitalization of $1.58 billion.
Over the past 52 weeks, La-Z-Boy’s stock gained only a modest 3.61%, while it has been up 6.41% year-to-date (YTD). The company has faced some pressure from the sluggish housing market with high mortgage rates, since new home purchases traditionally drive furniture sales. The stock reached a 52-week intraday high of $44.90 on June 17, but is down 11.67% from that level. However, La-Z-Boy’s shares have gained 14.79% over the past month.
www.barchart.com Despite the recent spike in the stock, on a forward-adjusted basis, La-Z-Boy has a price-to-earnings (non-GAAP) ratio of 13.47 times, which is lower than the industry average of 15.91 times.
La-Z-Boy Q4 Earnings Beat Estimates on Store Openings
For the fourth quarter of fiscal 2026 (quarter ended April 25), La-Z-Boy’s revenues remained more or less flat year-over-year (YOY) at $570.34 million, as the growth in the company’s retail business was offset by lower delivered volume in its Joybird business. However, this was higher than the $569.20 million expected by Wall Street analysts. La-Z-Boy’s adjusted EPS grew 37% YOY to $1.26, surpassing the $0.82 that Street analysts expected.
During the quarter, the company-owned store network expanded by four locations, bringing the total to 230 stores, which now accounts for 61% of the entire 378-store network. In fiscal 2026, La-Z-Boy opened 15 new stores and purchased 15 independent La-Z-Boy locations, marking the largest annual expansions in its history.
Wall Street analysts have mixed feelings about LZB’s future earnings. They expect the company’s EPS to drop by 2% YOY to $2.98 for the current fiscal year. However, for fiscal 2028, EPS is projected to surge 10.74% annually to $3.30.
Here’s What Analysts Think About La-Z-Boy’s Stock
As a small-cap stock, La-Z-Boy currently has few analyst ratings. However, what’s working for the stock is the fact that the last two ratings have been upgrades. In November 2025, Sidoti & Co. analyst Anthony Lebiedzinski raised the stock’s rating from “Neutral” to “Buy,” while raising the price target from $36 to $39.
In April 2025, La-Z-Boy was upgraded from “Sector Weight” to “Overweight” and set a Street-high price target of $46 by analysts at KeyBanc. At that point, KeyBanc analysts expected La-Z-Boy’s multiple could expand to reach 15 times.
Wall Street analysts have a favorable view of La-Z-Boy’s stock, awarding it with a “Moderate Buy” rating overall. Of the four analysts rating the stock, two rated it “Strong Buy,” while the other two rated it as “Hold.” The consensus price target of $43.67 represents an 10.1% upside from current levels, while the Street-high price target of $46 indicates a 16% upside.
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On the date of publication, Anushka Dutta did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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