For Immediate Release
Chicago, IL – September 24, 2013 – Stocks featured in this week’s Zacks Industry Rank analysis include La-Z-Boy Inc. ( LZB) and American Woodmark ( AMWD)
Zacks Industry Rank Analysis is written by John Blank, PhD, Chief Equity Strategist, Zacks.com.
At Home in the Furniture Sector
We’re always told, “It’s what’s inside that counts.” While this is surely a reference to interpersonal relations, the line holds true in real estate as well. We spend a large portion of our free time inside our homes and when the opportunity affords, we often look to invest back in that space.
The Furniture sector of the Zacks Industry Rank list gained 21 positions last week with several earnings estimate revisions. The category of 7 companies now holds a rank of 13 out of 260 sectors after six of the companies received upgrades in their Zacks Rank this past week alone. With no negative revisions, these businesses have built a comfortable average positive Earnings per Share ( EPS) surprise of +45%.
Consider your own routine for a moment. After a long day of work, coming home usually means dinner and down-time. Each of the companies which caught our eye this week play a role in that experience. With upgrades to a Zacks Rank #1 (Strong Buy) from a Buy rating, this may indicate future performance of a stock in response to further positive earnings estimate revisions. Paying attention to economic trends which affect not only individual sectors but related industries as well is essential in understanding how profits are built.
It’s worth noting that both of these companies hold a Zacks Recommendation of “Outperform” as well. Not that you should be inspired to get up from your...
La-Z-Boy Inc. ( LZB)
LZB was upgraded to a Zacks Rank #1 (Strong Buy) last week from #2 (Buy). Its next expected earnings report is on November 27, 2013.
La-Z-Boy is the third largest furniture maker in the U.S., the largest reclining-chair manufacturer in the world and America's largest manufacturer of upholstered furniture. Increased discretionary spending is playing a role in helping back-to-work Americans unwind.
Its most recent earnings surprise was +20%.
American Woodmark ( AMWD)
AMWD is a Zacks Rank #1 (Strong Buy). It moved up from a Zacks Rank #2 (Buy) last week as well. This company reports quarterly earnings on November 19, 2013.
American Woodmark Corp. manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets. Styles vary by design and color from natural wood finishes to low- pressure laminate surfaces. With its focus on lower-medium priced options, this holds strong appeal to spendthrift Americans looking for significant upgrades at reasonable prices.
AMWD’s most recent earnings surprise was +39%.
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Contact: Terry Ruffolo
For Immediate Release