Leggett & Platt (NYSE:LEG) Rating Lowered to “Hold” at Wall Street Zen

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

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

Leggett & Platt Stock Performance

Shares of LEG stock opened at $12.58 on Friday. Leggett & Platt has a 52-week low of $6.47 and a 52-week high of $12.77. The company has a quick ratio of 1.35, a current ratio of 2.15 and a debt-to-equity ratio of 1.54. The stock has a market cap of $1.70 billion, a PE ratio of 7.81 and a beta of 0.73. The business has a 50-day simple moving average of $10.82 and a 200-day simple moving average of $9.88.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Monday, October 27th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). Leggett & Platt had a net margin of 5.38% and a return on equity of 16.27%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business posted $0.32 earnings per share. The firm’s revenue was down 5.9% compared to the same quarter last year. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. On average, equities analysts expect that Leggett & Platt will post 1.14 EPS for the current year.

Institutional Trading of Leggett & Platt

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its holdings in shares of Leggett & Platt by 8.4% in the 1st quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock valued at $116,000 after buying an additional 1,132 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Leggett & Platt by 12.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,271 shares of the company’s stock valued at $113,000 after acquiring an additional 1,152 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Leggett & Platt by 3.7% during the third quarter. Amalgamated Bank now owns 39,752 shares of the company’s stock worth $353,000 after purchasing an additional 1,419 shares during the last quarter. EP Wealth Advisors LLC grew its stake in Leggett & Platt by 5.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 34,859 shares of the company’s stock worth $311,000 after buying an additional 1,912 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its position in Leggett & Platt by 2.8% during the second quarter. SummerHaven Investment Management LLC now owns 74,171 shares of the company’s stock worth $662,000 after buying an additional 2,005 shares during the period. Institutional investors and hedge funds 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.