Leggett & Platt (NYSE:LEG) Given New $12.00 Price Target at Truist Financial

Leggett & Platt (NYSE:LEG) had its target price upped by Truist Financial from $10.00 to $12.00 in a research report report published on Wednesday, MarketBeat reports. They currently have a hold rating on the stock.

Several other brokerages have also recently issued reports on LEG. Wall Street Zen cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Zacks Research raised shares of Leggett & Platt from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 8th. Piper Sandler set a $9.00 price objective on shares of Leggett & Platt in a research note on Wednesday. Weiss Ratings reissued a “sell (d)” rating on shares of Leggett & Platt in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $11.00 price objective on shares of Leggett & Platt in a research note on Wednesday. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Leggett & Platt currently has an average rating of “Reduce” and an average target price of $11.00.

Leggett & Platt Stock Down 5.2%

LEG stock opened at $10.04 on Wednesday. The stock has a market capitalization of $1.36 billion, a P/E ratio of 6.23 and a beta of 0.72. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.36 and a current ratio of 2.15. Leggett & Platt has a one year low of $6.47 and a one year high of $13.20. The company has a 50 day moving average price of $9.29 and a two-hundred day moving average price of $9.17.

Leggett & Platt (NYSE:LEG) last released its 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). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Leggett & Platt had a return on equity of 16.27% and a net margin of 5.38%.The firm’s revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. As a group, sell-side analysts expect that Leggett & Platt will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, September 15th. This represents a $0.20 annualized dividend and a dividend yield of 2.0%. Leggett & Platt’s payout ratio is presently 12.42%.

Hedge Funds Weigh In On Leggett & Platt

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Leggett & Platt by 16.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 57,580 shares of the company’s stock valued at $455,000 after acquiring an additional 8,260 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Leggett & Platt by 70.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 986,990 shares of the company’s stock valued at $7,807,000 after acquiring an additional 408,210 shares in the last quarter. PARK CIRCLE Co acquired a new position in Leggett & Platt in the 2nd quarter worth $491,000. Vanguard Group Inc. lifted its holdings in Leggett & Platt by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 16,583,732 shares of the company’s stock worth $131,177,000 after buying an additional 1,105,256 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in Leggett & Platt by 206.0% in the 1st quarter. GSA Capital Partners LLP now owns 114,110 shares of the company’s stock worth $903,000 after buying an additional 76,820 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.

About Leggett & Platt

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.