Brokerages Set Leggett & Platt, Incorporated (NYSE:LEG) Target Price at $9.67

Shares of Leggett & Platt, Incorporated (NYSE:LEG) have been given an average rating of “Reduce” by the five brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $11.00.

A number of research analysts have weighed in on the stock. Zacks Research raised shares of Leggett & Platt from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $11.00 price objective on shares of Leggett & Platt in a research report on Wednesday. Piper Sandler set a $9.00 price objective on shares of Leggett & Platt in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Leggett & Platt in a research report on Wednesday, October 8th.

Leggett & Platt Stock Down 2.2%

LEG stock opened at $9.33 on Tuesday. The firm has a market cap of $1.26 billion, a PE ratio of 5.79 and a beta of 0.72. The company has a current ratio of 2.15, a quick ratio of 1.36 and a debt-to-equity ratio of 1.54. Leggett & Platt has a 1 year low of $6.47 and a 1 year high of $13.20. The company has a fifty day simple moving average of $9.29 and a 200 day simple moving average of $9.20.

Leggett & Platt (NYSE:LEG) last released 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 firm had revenue of $1.04 billion for the quarter, compared to analyst estimates 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 prior year, the firm earned $0.32 EPS. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. Sell-side analysts anticipate that Leggett & Platt will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.1%. Leggett & Platt’s dividend payout ratio is currently 12.42%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Leggett & Platt by 7.1% in the first quarter. Vanguard Group Inc. now owns 16,583,732 shares of the company’s stock valued at $131,177,000 after acquiring an additional 1,105,256 shares during the period. Millennium Management LLC increased its stake in Leggett & Platt by 784.7% in the first quarter. Millennium Management LLC now owns 4,605,416 shares of the company’s stock valued at $36,429,000 after acquiring an additional 4,084,866 shares during the period. Marshall Wace LLP increased its stake in 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 during the period. Geode Capital Management LLC increased its stake in Leggett & Platt by 47.8% in the second quarter. Geode Capital Management LLC now owns 3,175,556 shares of the company’s stock valued at $28,330,000 after acquiring an additional 1,026,608 shares during the period. Finally, Invenomic Capital Management LP increased its stake in Leggett & Platt by 31.3% in the first quarter. Invenomic Capital Management LP now owns 1,992,319 shares of the company’s stock valued at $15,759,000 after acquiring an additional 475,163 shares during the period. 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.