Leggett & Platt, Incorporated (NYSE:LEG) Receives $11.67 Consensus PT from Brokerages

Leggett & Platt, Incorporated (NYSE:LEG) has been assigned an average rating of “Reduce” from the five brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $11.6667.

Several analysts recently commented on LEG shares. Wall Street Zen cut Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings cut Leggett & Platt from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 16th.

Hedge Funds Weigh In On Leggett & Platt

Several large investors have recently bought and sold shares of the stock. Palisade Asset Management LLC bought a new stake in Leggett & Platt during the third quarter worth approximately $29,000. Quent Capital LLC acquired a new stake in shares of Leggett & Platt in the third quarter valued at $34,000. Motiv8 Investments LLC acquired a new stake in shares of Leggett & Platt in the fourth quarter valued at $34,000. Hantz Financial Services Inc. boosted its stake in Leggett & Platt by 32.0% during the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock valued at $36,000 after buying an additional 783 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in Leggett & Platt during the third quarter valued at about $51,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Leggett & Platt Price Performance

NYSE LEG opened at $11.38 on Tuesday. Leggett & Platt has a 52 week low of $7.18 and a 52 week high of $13.00. 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 stock has a market cap of $1.55 billion, a price-to-earnings ratio of 6.73 and a beta of 0.74. The company has a 50-day moving average price of $10.76 and a two-hundred day moving average price of $10.68.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The company had revenue of $938.60 million for the quarter, compared to analyst estimates of $938.74 million. Leggett & Platt had a net margin of 5.80% and a return on equity of 15.00%. Leggett & Platt’s revenue was down 11.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 earnings per share. Analysts forecast that Leggett & Platt will post 1.08 EPS for the current year.

Leggett & Platt Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Friday, March 13th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.20 annualized dividend and a yield of 1.8%. Leggett & Platt’s dividend 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.