Leggett & Platt (NYSE:LEG) Announces Earnings Results, Meets Expectations

by · The Cerbat Gem

Leggett & Platt (NYSE:LEG – Get Free Report) released its earnings results on Wednesday. The company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22, Zacks reports. Leggett & Platt had a return on equity of 16.27% and a net margin of 5.38%.

Leggett & Platt Stock Performance

NYSE LEG traded down $0.24 during trading on Wednesday, reaching $12.37. 2,487,259 shares of the company’s stock were exchanged, compared to its average volume of 1,585,697. 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 business has a 50 day moving average price of $11.75 and a 200-day moving average price of $10.15. The stock has a market capitalization of $1.68 billion, a P/E ratio of 7.68 and a beta of 0.72. Leggett & Platt has a fifty-two week low of $6.47 and a fifty-two week high of $13.00.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LEG. The Goldman Sachs Group reiterated a “neutral” rating and issued a $11.00 price objective on shares of Leggett & Platt in a report on Wednesday, October 29th. Piper Sandler lifted their price target on shares of Leggett & Platt from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Leggett & Platt in a research report on Monday, December 29th. Zacks Research cut Leggett & Platt from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Finally, Truist Financial lifted their target price on Leggett & Platt from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.67.

View Our Latest Stock Analysis on Leggett & Platt

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LEG. Cerity Partners LLC raised its stake in Leggett & Platt by 82.7% in the 4th quarter. Cerity Partners LLC now owns 64,524 shares of the company’s stock valued at $710,000 after acquiring an additional 29,216 shares during the period. LPL Financial LLC boosted its position in Leggett & Platt by 13.4% during the fourth quarter. LPL Financial LLC now owns 90,667 shares of the company’s stock worth $997,000 after purchasing an additional 10,722 shares during the period. Franklin Resources Inc. increased its holdings in shares of Leggett & Platt by 2.9% in the fourth quarter. Franklin Resources Inc. now owns 524,680 shares of the company’s stock valued at $5,771,000 after purchasing an additional 14,568 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Leggett & Platt in the fourth quarter valued at about $499,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Leggett & Platt by 7.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,245,818 shares of the company’s stock worth $13,704,000 after buying an additional 85,878 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Company Profile

(Get Free Report)

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.

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