La-Z-Boy, Inc. (LZB) recently hit a new 52-week high above $15 on the company’s better than expected Q4 results from mid February.
Fourth-Quarter Surprise of 89%
Sales for the period were up 5.7% from last year to $305 million, producing earnings of 17 cents, 89% ahead of the Zacks Consensus Estimate. La-Z-Boy has been on a roll over the last four quarters, with an average earnings surprise of 113%.
La-Z-Boy noted that its upholstery segment saw its operating margin expand to 11% from a negative reading last year and added $20 million to its cash position for a total of $80 in cash and equivalents.
Estimates Jump
Analysts raised estimates for this Zacks #2 rank stock on the good quarter, with the current year jumping 12 cents to 55 cents. The next-year estimate is up 11 cents to 94 cents, a bullish 72% growth projection.
With some nice gains in hand, this stock does look a bit pricey, trading with a forward P/E multiple 23X, a premium to the overall market.
The Chart
Shares of LZB recently hit a new 52-week high above $15 on the strong results and rising estimates, take a look below.
Read the Jan 19, 2010 article
Last Week’s Momentum Zacks Rank Buy Stocks
Kirkland’s, Inc. (KIRK) just hit a new 52-week high on the company’s better than expected Q4 results from mid March that included 10% sales growth and a 14% earnings surprise. Read Full Article.
Starwood Hotels & Resorts Worldwide, Inc. (HOT) recently hit a new 52-week high on the company’s cautious optimism for 2010 as high-end consumers drive demand for it’s high-margin rooms and suites. Read Full Article.
The Steak n Shake (SNS) recently hit a new 52-week high on a return to profitability in its Q1 results from late January and surging estimates. Read Full Article.
Assisted Living Concepts, Inc. (ALC) recently hit a new 52-week high as the company continues to strategically shift away from Medicaid to private payers that offer higher margins. Analysts are bullish on the company, projecting 15% earnings growth in the next-year period. Read Full Article.
Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Surprise Trader Service. Zacks Investment Research
