Leggett & Platt, Incorporated (NYSE:LEG) Receives $11.67 Consensus Price Target from Analysts

Shares of Leggett & Platt, Incorporated (NYSE:LEG) have been given an average recommendation of “Hold” by the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $11.6667.

A number of research analysts have commented on the company. The Goldman Sachs Group restated a “neutral” rating and set a $11.00 price objective on shares of Leggett & Platt in a research note on Wednesday, October 29th. Zacks Research downgraded Leggett & Platt from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Weiss Ratings raised Leggett & Platt from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Piper Sandler increased 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 lifted their price objective on shares of Leggett & Platt from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th.

Leggett & Platt Stock Down 1.3%

Shares of NYSE:LEG opened at $11.15 on Wednesday. The stock has a 50-day simple moving average of $9.85 and a 200-day simple moving average of $9.56. The stock has a market capitalization of $1.51 billion, a P/E ratio of 6.93 and a beta of 0.75. Leggett & Platt has a 1 year low of $6.47 and a 1 year high of $12.03. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.35 and a current ratio of 2.15.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Monday, October 27th. The company reported $0.29 EPS 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 business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the business posted $0.32 EPS. The company’s quarterly revenue was down 5.9% on a year-over-year basis. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. Equities analysts forecast that Leggett & Platt will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be issued a $0.05 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.8%. Leggett & Platt’s payout ratio is currently 12.42%.

Institutional Trading of Leggett & Platt

Several large investors have recently modified their holdings of the business. Jones Financial Companies Lllp lifted its stake in shares of Leggett & Platt by 8.4% in the first quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock worth $116,000 after acquiring an additional 1,132 shares in the last quarter. Amalgamated Bank raised its position 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 in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Leggett & Platt by 5.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 34,859 shares of the company’s stock valued at $311,000 after buying an additional 1,912 shares during the last quarter. SummerHaven Investment Management LLC grew its position 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 buying an additional 2,005 shares in the last quarter. Finally, Penserra Capital Management LLC increased its stake in shares of Leggett & Platt by 8.1% in the second quarter. Penserra Capital Management LLC now owns 27,789 shares of the company’s stock worth $247,000 after buying an additional 2,072 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

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.