Leggett & Platt, Incorporated (NYSE:LEG) Given Consensus Recommendation of “Hold” by Brokerages

Leggett & Platt, Incorporated (NYSE:LEG) has been assigned a consensus rating of “Hold” from the five analysts that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $11.6667.

LEG has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Leggett & Platt in a report on Monday, December 29th. 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 boosted their price target on Leggett & Platt from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Finally, Piper Sandler boosted their price target on Leggett & Platt from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in shares of Leggett & Platt by 59.5% in the first quarter. Royal Bank of Canada now owns 47,054 shares of the company’s stock valued at $372,000 after buying an additional 17,561 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Leggett & Platt by 8.4% during the 1st quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock worth $116,000 after purchasing an additional 1,132 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Leggett & Platt by 3.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 454,096 shares of the company’s stock valued at $3,592,000 after buying an additional 13,187 shares in the last quarter. Jane Street Group LLC increased its position in Leggett & Platt by 36.3% during the first quarter. Jane Street Group LLC now owns 1,175,452 shares of the company’s stock worth $9,298,000 after purchasing an additional 312,840 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Leggett & Platt by 113.5% during the 1st quarter. Acadian Asset Management LLC now owns 109,638 shares of the company’s stock valued at $866,000 after buying an additional 58,292 shares during the period. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Leggett & Platt Stock Up 0.1%

Shares of NYSE LEG opened at $12.88 on Thursday. Leggett & Platt has a 1 year low of $6.47 and a 1 year high of $13.00. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.15 and a quick ratio of 1.35. The company has a market cap of $1.74 billion, a P/E ratio of 8.01 and a beta of 0.72. The firm has a 50-day simple moving average of $11.61 and a two-hundred day simple moving average of $10.09.

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.