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

Shares of Leggett & Platt, Incorporated (NYSE:LEG) have earned a consensus recommendation of “Hold” from the five brokerages that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $11.6667.

LEG has been the topic of several recent research reports. Wall Street Zen raised Leggett & Platt from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Leggett & Platt in a research note on Monday, December 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $11.00 price objective on shares of Leggett & Platt in a research note on Wednesday, October 29th. 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 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.

Leggett & Platt Trading Up 0.5%

Shares of Leggett & Platt stock opened at $12.30 on Friday. The firm’s 50 day moving average is $10.59 and its 200 day moving average is $9.81. The firm has a market capitalization of $1.67 billion, a PE ratio of 7.64 and a beta of 0.73. Leggett & Platt has a 1 year low of $6.47 and a 1 year high of $12.38. The company has a current ratio of 2.15, a quick ratio of 1.35 and a debt-to-equity ratio of 1.54.

Leggett & Platt (NYSE:LEG) last issued its 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 net margin of 5.38% and a return on equity of 16.27%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 EPS. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. Equities research analysts forecast that Leggett & Platt will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, December 15th. Leggett & Platt’s payout ratio is 12.42%.

Institutional Investors Weigh In On Leggett & Platt

Several large investors have recently modified their holdings of the company. Marshall Wace LLP increased its holdings in Leggett & Platt by 35.8% during the 2nd quarter. Marshall Wace LLP now owns 3,380,980 shares of the company’s stock worth $30,158,000 after purchasing an additional 890,577 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of Leggett & Platt during the second quarter valued at approximately $2,137,000. Prudential Financial Inc. grew its holdings in Leggett & Platt by 202.7% during the second quarter. Prudential Financial Inc. now owns 402,232 shares of the company’s stock worth $3,588,000 after buying an additional 269,347 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Leggett & Platt in the 3rd quarter valued at $1,093,000. Finally, Norges Bank bought a new position in Leggett & Platt during the 2nd quarter valued at $10,706,000. 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.