Lazy Boy
UNIVERSITY OF OREGON INVESTMENT GROUP
April 30, 2010 Consumer Goods
La-Z-Boy Incorporated
BUY
Stock Data Price (52 weeks) Symbol (Exchange) Beta Standard Error of Beta Shares Outstanding Average daily volume (3 month average) Current market cap Valuation (per share) DCF Analysis Comparables Analysis Target Price Current Price (as of 4/29/10) Summary Financials Revenue Net Income Operating Cash Flow Earnings/Diluted Share BUSINESS OVERVIEW La-Z-Boy Incorporated (LZB) is the most recognized name in the furniture industry. The Company manufactures, markets, imports, distributes and sells upholstery products and casegoods (wood) furniture. LZB operates in three segments—the Upholstery Group, the Casegoods Group and the Retail Group—and is the largest reclining-chair manufacturer in the world and one of North America’s largest manufacturers of upholstered furniture. According to the May, 2009 top 100 ranking by industry trade publication Fortune Today, the La-Z-Boy Furniture Galleries® network of stores comprises the industry’s largest single-branded upholstered furniture retailer in North America, as well as the third largest manufacturer/distributor of residential furniture, as measured by annual sales volume. The
Covering Analyst: Adam Block Email: ablock@uoregon.edu
$1.81 – $15.46 LZB (NYSE) 2.05 .335 51.55 million 771,965 $748.96 million
17.17 17.31 17.24 14.01
Q3 Ended 1/23/10 305.09 million 10.97 million 22.69 million $0.21
The University of Oregon Investment Group (UOIG) is a student run organization whose purpose is strictly educational. Member students are not certified or licensed to give investment advice or analyze securities, nor do they purport to be. Members of UOIG may have clerked, interned or held various employment positions with firms held in UOIG’s portfolio. In addition, members of UOIG may attempt to obtain employment positions with firms held in UOIG’s portfolio.
La-Z-Boy Inc.
university of oregon investment group
April 30, 2010 Consumer Goods
La-Z-Boy Incorporated
BUY
Stock Data Price (52 weeks) Symbol (Exchange) Beta Standard Error of Beta Shares Outstanding Average daily volume (3 month average) Current market cap Valuation (per share) DCF Analysis Comparables Analysis Target Price Current Price (as of 4/29/10) Summary Financials Revenue Net Income Operating Cash Flow Earnings/Diluted Share BUSINESS OVERVIEW La-Z-Boy Incorporated (LZB) is the most recognized name in the furniture industry. The Company manufactures, markets, imports, distributes and sells upholstery products and casegoods (wood) furniture. LZB operates in three segments—the Upholstery Group, the Casegoods Group and the Retail Group—and is the largest reclining-chair manufacturer in the world and one of North America’s largest manufacturers of upholstered furniture. According to the May, 2009 top 100 ranking by industry trade publication Fortune Today, the La-Z-Boy Furniture Galleries® network of stores comprises the industry’s largest single-branded upholstered furniture retailer in North America, as well as the third largest manufacturer/distributor of residential furniture, as measured by annual sales volume. The
Covering Analyst: Adam Block Email: ablock@uoregon.edu
$1.81 – $15.46 LZB (NYSE) 2.05 .335 51.55 million 771,965 $748.96 million
17.17 17.31 17.24 14.01
Q3 Ended 1/23/10 305.09 million 10.97 million 22.69 million $0.21
The University of Oregon Investment Group (UOIG) is a student run organization whose purpose is strictly educational. Member students are not certified or licensed to give investment advice or analyze securities, nor do they purport to be. Members of UOIG may have clerked, interned or held various employment positions with firms held in UOIG’s portfolio. In addition, members of UOIG may attempt to obtain employment positions with firms held in UOIG’s portfolio.
La-Z-Boy Inc.
university of oregon investment group