Leggett & Platt (NYSE:LEG) Downgraded by Wall Street Zen to "Hold"

Leggett & Platt (NYSE:LEG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

LEG has been the topic of a number of other reports. Piper Sandler reaffirmed a "neutral" rating and set a $9.00 price objective (down from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. The Goldman Sachs Group boosted their price target on Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th.

Leggett & Platt Stock Up 1.0%

LEG stock opened at $9.21 on Friday. Leggett & Platt has a twelve month low of $6.48 and a twelve month high of $14.24. The company has a quick ratio of 1.36, a current ratio of 2.20 and a debt-to-equity ratio of 2.59. The stock has a market cap of $1.24 billion, a P/E ratio of -2.46 and a beta of 0.75. The business's 50-day moving average price is $8.75 and its 200-day moving average price is $9.24.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. Leggett & Platt had a positive return on equity of 20.46% and a negative net margin of 11.89%. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the firm earned $0.23 EPS. The business's quarterly revenue was down 6.8% on a year-over-year basis. On average, equities research analysts forecast that Leggett & Platt will post 1.14 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its stake in Leggett & Platt by 7.7% in the 4th quarter. CIBC Asset Management Inc now owns 13,986 shares of the company's stock worth $134,000 after acquiring an additional 1,001 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Leggett & Platt by 8.4% in the 1st quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company's stock worth $116,000 after acquiring an additional 1,132 shares during the last quarter. Sterling Capital Management LLC increased its stake in Leggett & Platt by 17.1% in the 4th quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock worth $77,000 after acquiring an additional 1,163 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in Leggett & Platt by 8.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 24,501 shares of the company's stock worth $194,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Swiss National Bank increased its stake in Leggett & Platt by 0.8% in the 4th quarter. Swiss National Bank now owns 263,900 shares of the company's stock worth $2,533,000 after acquiring an additional 2,100 shares during the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

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.

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