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

Leggett & Platt, Incorporated (NYSE:LEG) has received an average rating of “Hold” from the five research firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $11.6667.

Several research firms have weighed in on LEG. Zacks Research lowered shares of Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Truist Financial raised their price target on shares of Leggett & Platt from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group reiterated a “neutral” rating and set a $11.00 price target on shares of Leggett & Platt in a research note on Wednesday, October 29th. Wall Street Zen raised Leggett & Platt from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Leggett & Platt in a report on Monday, December 29th.

Leggett & Platt Stock Performance

Shares of Leggett & Platt stock opened at $12.89 on Thursday. The business has a 50-day simple moving average of $11.72 and a 200 day simple moving average of $10.13. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 8.01 and a beta of 0.72. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.15 and a quick ratio of 1.35. Leggett & Platt has a one year low of $6.47 and a one year high of $13.00.

Institutional Trading of Leggett & Platt

Several institutional investors have recently made changes to their positions in LEG. Vanguard Group Inc. lifted its position in shares of Leggett & Platt by 9.1% during the third quarter. Vanguard Group Inc. now owns 18,707,102 shares of the company’s stock valued at $166,119,000 after purchasing an additional 1,557,459 shares in the last quarter. Norges Bank bought a new position in shares of Leggett & Platt during the 2nd quarter worth approximately $10,706,000. M&T Bank Corp boosted its stake in shares of Leggett & Platt by 8,333.0% in the 4th quarter. M&T Bank Corp now owns 1,132,132 shares of the company’s stock worth $12,453,000 after buying an additional 1,118,707 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Leggett & Platt by 47.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,175,556 shares of the company’s stock worth $28,330,000 after buying an additional 1,026,608 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Leggett & Platt by 35.8% in the second quarter. Marshall Wace LLP now owns 3,380,980 shares of the company’s stock valued at $30,158,000 after acquiring an additional 890,577 shares in the last quarter. Institutional investors own 64.23% of the company’s stock.

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.