Leggett & Platt (NYSE:LEG) Stock Rating Lowered by Wall Street Zen

Leggett & Platt (NYSE:LEG) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Other analysts have also issued reports about the stock. Piper Sandler increased their price objective on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Leggett & Platt in a report on Monday, December 29th. Truist Financial lifted their price objective on shares of Leggett & Platt from $10.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, October 29th. Zacks Research cut shares of Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $11.00 target price on shares of Leggett & Platt in a research report on Wednesday, October 29th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.67.

Leggett & Platt Stock Down 2.2%

LEG stock opened at $11.92 on Friday. The business’s 50-day moving average price is $11.84 and its 200-day moving average price is $10.31. The stock has a market cap of $1.61 billion, a P/E ratio of 7.05 and a beta of 0.72. The company has a quick ratio of 1.45, a current ratio of 2.25 and a debt-to-equity ratio of 1.46. Leggett & Platt has a twelve month low of $6.47 and a twelve month high of $13.00.

Leggett & Platt (NYSE:LEG) last released its earnings results on Wednesday, February 11th. The company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. Leggett & Platt had a net margin of 5.80% and a return on equity of 15.00%. The firm had revenue of $938.60 million for the quarter, compared to the consensus estimate of $938.74 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The company’s quarterly revenue was down 11.2% compared to the same quarter last year. On average, equities research analysts forecast that Leggett & Platt will post 1.14 EPS for the current year.

Hedge Funds Weigh In On Leggett & Platt

A number of large investors have recently bought and sold shares of LEG. Palisade Asset Management LLC purchased a new stake in Leggett & Platt during the third quarter worth $29,000. Quent Capital LLC bought a new position in shares of Leggett & Platt in the 3rd quarter worth $34,000. Motiv8 Investments LLC purchased a new stake in shares of Leggett & Platt during the 4th quarter worth $34,000. Hantz Financial Services Inc. boosted its position in Leggett & Platt by 32.0% during the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock valued at $36,000 after purchasing an additional 783 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in Leggett & Platt in the third quarter valued at about $51,000. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Company Profile

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.