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

Leggett & Platt (NYSE:LEG) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $11.00 price target on shares of Leggett & Platt in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Leggett & Platt in a report on Monday, December 29th. 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 raised their price objective on shares of Leggett & Platt from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Finally, Truist Financial boosted their target price on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.67.

Leggett & Platt Stock Performance

Shares of LEG opened at $10.99 on Friday. The firm has a 50-day moving average price of $10.25 and a 200 day moving average price of $9.68. The firm has a market capitalization of $1.49 billion, a PE ratio of 6.82 and a beta of 0.73. The company has a quick ratio of 1.35, a current ratio of 2.15 and a debt-to-equity ratio of 1.54. Leggett & Platt has a 52-week low of $6.47 and a 52-week high of $12.03.

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

Institutional Trading of Leggett & Platt

Hedge funds and other institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp raised its position in Leggett & Platt by 8.4% during the first 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 during the period. Amalgamated Bank increased its holdings in shares of Leggett & Platt by 3.7% in the 3rd quarter. Amalgamated Bank now owns 39,752 shares of the company’s stock valued at $353,000 after purchasing an additional 1,419 shares during the period. EP Wealth Advisors LLC lifted its position in shares of Leggett & Platt by 5.8% in the second quarter. EP Wealth Advisors LLC now owns 34,859 shares of the company’s stock worth $311,000 after purchasing an additional 1,912 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of 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 purchasing an additional 2,005 shares during the period. Finally, Penserra Capital Management LLC grew its position in Leggett & Platt by 8.1% during the second quarter. Penserra Capital Management LLC now owns 27,789 shares of the company’s stock valued at $247,000 after purchasing an additional 2,072 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.

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.