Leggett & Platt, Incorporated (NYSE:LEG) Receives Average Recommendation of “Hold” from Brokerages

Leggett & Platt, Incorporated (NYSE:LEG) has received a consensus rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating. The average 12-month target price among analysts that have issued a report on the stock in the last year is $11.6667.

A number of brokerages have weighed in on LEG. Piper Sandler boosted their target price on Leggett & Platt from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Truist Financial upped their target price 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. Wall Street Zen downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Leggett & Platt in a report on Monday, December 29th. Finally, Zacks Research downgraded Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th.

Hedge Funds Weigh In On Leggett & Platt

Several institutional investors have recently bought and sold shares of LEG. Palisade Asset Management LLC bought a new position in shares of Leggett & Platt during the 3rd quarter valued at about $29,000. Quent Capital LLC bought a new position in shares of Leggett & Platt during the 3rd quarter valued at approximately $34,000. Advisory Services Network LLC purchased a new position in shares of Leggett & Platt in the third quarter valued at $51,000. Nisa Investment Advisors LLC bought a new position in Leggett & Platt during the second quarter valued at $76,000. Finally, HM Payson & Co. purchased a new stake in shares of Leggett & Platt during the 3rd quarter valued at about $89,000. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Stock Up 0.1%

Shares of NYSE:LEG opened at $12.88 on Thursday. Leggett & Platt has a 12-month low of $6.47 and a 12-month high of $13.00. The company has a current ratio of 2.15, a quick ratio of 1.35 and a debt-to-equity ratio of 1.54. The stock has a fifty day simple moving average of $11.61 and a two-hundred day simple moving average of $10.09. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 8.01 and a beta of 0.72.

About Leggett & Platt

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.