Leggett & Platt (NYSE:LEG) PT Lowered to $14.00

Leggett & Platt (NYSE:LEG) had its price objective dropped by The Goldman Sachs Group from $20.00 to $14.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 0.36% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. StockNews.com cut Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. TheStreet lowered Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. Truist Financial decreased their price objective on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, March 26th. Finally, Piper Sandler dropped their target price on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.33.

Leggett & Platt Trading Up 2.9 %

Shares of NYSE:LEG traded up $0.39 on Thursday, hitting $13.95. 3,968,813 shares of the company’s stock were exchanged, compared to its average volume of 2,435,515. The business’s 50 day simple moving average is $18.63 and its two-hundred day simple moving average is $22.08. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.57 and a quick ratio of 0.84. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -12.03 and a beta of 1.19. Leggett & Platt has a 12 month low of $11.02 and a 12 month high of $33.11.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. Leggett & Platt had a negative net margin of 3.44% and a positive return on equity of 11.31%. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 EPS. Analysts anticipate that Leggett & Platt will post 1.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Ryan Michael Kleiboeker acquired 10,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $13.39 per share, with a total value of $133,900.00. Following the transaction, the executive vice president now directly owns 41,535 shares in the company, valued at $556,153.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.57% of the stock is currently owned by company insiders.

Institutional Trading of Leggett & Platt

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Leggett & Platt by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 12,946,981 shares of the company’s stock valued at $328,983,000 after purchasing an additional 117,499 shares in the last quarter. South Dakota Investment Council raised its stake in Leggett & Platt by 52.9% in the 4th quarter. South Dakota Investment Council now owns 145,846 shares of the company’s stock worth $3,817,000 after acquiring an additional 50,438 shares during the last quarter. Fifth Third Bancorp lifted its position in Leggett & Platt by 253.3% during the 4th quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock worth $26,000 after acquiring an additional 722 shares during the period. Pacer Advisors Inc. grew its stake in Leggett & Platt by 68.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,934,905 shares of the company’s stock valued at $50,636,000 after purchasing an additional 786,297 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Leggett & Platt by 45.7% in the third quarter. Invesco Ltd. now owns 1,699,580 shares of the company’s stock valued at $43,186,000 after purchasing an additional 532,780 shares during the period. Institutional investors and hedge funds own 64.23% of the company’s stock.

About Leggett & Platt

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.