Leggett & Platt, Inc. (NYSE:LEG) Receives $42.00 Average Target Price from Analysts

Shares of Leggett & Platt, Inc. (NYSE:LEG) have been given an average recommendation of “Hold” by the six analysts that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $42.00.

A number of research analysts have issued reports on the company. TheStreet cut Weibo from a “b-” rating to a “c+” rating in a report on Friday, May 31st. Zacks Investment Research lowered Inflarx from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.

Shares of NYSE LEG traded up $1.14 during midday trading on Tuesday, reaching $38.98. 808,179 shares of the company traded hands, compared to its average volume of 929,236. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.74 and a beta of 1.08. The business’s 50-day moving average price is $37.72. Leggett & Platt has a 12 month low of $33.48 and a 12 month high of $46.71. The company has a current ratio of 1.91, a quick ratio of 1.13 and a debt-to-equity ratio of 2.02.



Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.03). The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. Leggett & Platt had a net margin of 6.58% and a return on equity of 28.02%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 earnings per share. Equities analysts expect that Leggett & Platt will post 2.46 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $0.40 dividend. The ex-dividend date is Thursday, June 13th. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.10%. Leggett & Platt’s dividend payout ratio (DPR) is 64.52%.

Several large investors have recently made changes to their positions in LEG. Norges Bank acquired a new stake in Leggett & Platt in the fourth quarter worth about $40,824,000. Ronna Sue Cohen increased its position in Leggett & Platt by 4,158.9% in the first quarter. Ronna Sue Cohen now owns 395,565 shares of the company’s stock worth $396,000 after purchasing an additional 386,277 shares during the period. JPMorgan Chase & Co. increased its position in Leggett & Platt by 95.3% in the first quarter. JPMorgan Chase & Co. now owns 674,104 shares of the company’s stock worth $28,460,000 after purchasing an additional 328,872 shares during the period. Deutsche Bank AG increased its position in Leggett & Platt by 72.4% in the fourth quarter. Deutsche Bank AG now owns 436,133 shares of the company’s stock worth $15,628,000 after purchasing an additional 183,223 shares during the period. Finally, Gotham Asset Management LLC acquired a new stake in Leggett & Platt in the fourth quarter worth about $5,110,000. Institutional investors own 76.36% of the company’s stock.

Leggett & Platt Company Profile

Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.

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