Brokerages Set Leggett & Platt, Incorporated (NYSE:LEG) Price Target at $11.67

Leggett & Platt, Incorporated (NYSE:LEG) has been assigned an average recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating. The average 1-year price objective among brokers that have covered the stock in the last year is $11.6667.

LEG has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Zacks Research downgraded shares of Leggett & Platt from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Piper Sandler boosted their price target on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Leggett & Platt in a report on Monday, December 29th.

Institutional Trading of Leggett & Platt

Several hedge funds have recently modified their holdings of LEG. Palisade Asset Management LLC purchased a new stake in shares of Leggett & Platt in the third quarter valued at approximately $29,000. Quent Capital LLC purchased a new position in Leggett & Platt in the third quarter worth $34,000. Motiv8 Investments LLC purchased a new position in Leggett & Platt in the fourth quarter worth $34,000. Hantz Financial Services Inc. lifted its holdings in Leggett & Platt by 32.0% in the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock valued at $36,000 after acquiring an additional 783 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of Leggett & Platt during the 3rd quarter worth $51,000. 64.23% of the stock is owned by institutional investors and hedge funds.

Leggett & Platt Trading Down 3.5%

Shares of LEG stock opened at $10.64 on Monday. The company has a market capitalization of $1.45 billion, a P/E ratio of 6.30 and a beta of 0.71. The company has a current ratio of 2.25, a quick ratio of 1.45 and a debt-to-equity ratio of 1.46. The business’s 50 day moving average is $11.88 and its two-hundred day moving average is $10.47. 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 quarterly 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 return on equity of 15.00% and a net margin of 5.80%.The business had revenue of $938.60 million during the quarter, compared to analysts’ expectations of $938.74 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. The company’s quarterly revenue was down 11.2% compared to the same quarter last year. Equities analysts forecast that Leggett & Platt will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, March 13th. This represents a $0.20 annualized dividend and a yield of 1.9%. Leggett & Platt’s payout ratio is presently 11.83%.

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.