Leggett & Platt (NYSE:LEG) Given New $24.00 Price Target at The Goldman Sachs Group

Leggett & Platt (NYSE:LEG) had its target price lowered by investment analysts at The Goldman Sachs Group from $27.00 to $24.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 1.01% from the company’s current price.

Other research analysts have also issued research reports about the stock. Truist Financial reduced their target price on shares of Leggett & Platt from $31.00 to $26.00 and set a “hold” rating on the stock in a research note on Tuesday, October 17th. StockNews.com assumed coverage on shares of Leggett & Platt in a report on Thursday, October 5th. They set a “hold” rating for the company.

Leggett & Platt Price Performance

Shares of LEG stock opened at $23.76 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.10 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 15.13 and a beta of 1.26. The firm’s 50 day moving average is $25.39 and its 200-day moving average is $28.77. Leggett & Platt has a 1 year low of $22.65 and a 1 year high of $38.55.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Monday, October 30th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.24 billion. Leggett & Platt had a net margin of 4.44% and a return on equity of 12.47%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 earnings per share. Sell-side analysts forecast that Leggett & Platt will post 1.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. AGF Management Ltd. raised its holdings in Leggett & Platt by 2.3% in the first quarter. AGF Management Ltd. now owns 100,236 shares of the company’s stock worth $3,196,000 after purchasing an additional 2,289 shares during the period. SG Americas Securities LLC lifted its holdings in Leggett & Platt by 4.6% during the second quarter. SG Americas Securities LLC now owns 36,603 shares of the company’s stock worth $1,084,000 after acquiring an additional 1,603 shares in the last quarter. Green Square Capital Advisors LLC grew its stake in Leggett & Platt by 7.0% in the second quarter. Green Square Capital Advisors LLC now owns 61,380 shares of the company’s stock valued at $1,818,000 after acquiring an additional 4,004 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Leggett & Platt in the first quarter worth about $466,000. Finally, FORVIS Wealth Advisors LLC acquired a new stake in shares of Leggett & Platt during the first quarter worth about $659,000. Institutional investors own 60.26% of the company’s stock.

Leggett & Platt Company Profile

Leggett & Platt, Incorporated designs, manufactures, and markets engineered components and products worldwide. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, foam chemicals and additives, innersprings, private label finished mattresses, wire forms for mattress foundations, adjustable beds, industrial sewing and quilting machines, and mattress packaging and glue drying equipment, as well as machines to produce innersprings for industrial users of steel rods and wires, manufacturers of finished bedding, big box and e-commerce retailers, bedding brands and mattress retailers, department stores, and home improvement centers.