Leggett & Platt (NYSE:LEG) Earns Sell (D) Rating from Weiss Ratings

Key Points

• Leggett & Platt has received a "sell (D)" rating from Weiss Ratings, with multiple brokerages, including Zacks Research and Wall Street Zen, downgrading the stock's ratings recently.
• The stock's average rating is "Reduce," with a consensus price target of $9.67, reflecting a pessimistic outlook among analysts.
• In its last quarterly earnings report, Leggett & Platt reported $1.06 billion in revenue, but noted a 6.3% decrease in revenue compared to the same quarter last year.

Leggett & Platt (NYSE:LEG - Get Free Report)'s stock had its "sell (d)" rating reiterated by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other brokerages have also recently commented on LEG. Zacks Research cut Leggett & Platt from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. Wall Street Zen cut Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Piper Sandler reiterated a "neutral" rating and issued a $9.00 target price (down from $10.00) on shares of Leggett & Platt in a report on Monday, August 4th. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $9.67.

Leggett & Platt Stock Performance

Leggett & Platt stock opened at $8.90 on Wednesday. The business has a 50 day moving average of $9.24 and a 200-day moving average of $8.99. Leggett & Platt has a 1 year low of $6.47 and a 1 year high of $13.62. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.17 and a quick ratio of 1.36. The company has a market capitalization of $1.20 billion, a P/E ratio of 8.64 and a beta of 0.72.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. Leggett & Platt had a return on equity of 19.42% and a net margin of 3.36%.The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The firm's revenue was down 6.3% compared to the same quarter last year. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. On average, equities research analysts predict that Leggett & Platt will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On Leggett & Platt

A number of institutional investors have recently modified their holdings of the company. Aaron Wealth Advisors LLC acquired a new position in shares of Leggett & Platt during the third quarter worth approximately $92,000. Corient Private Wealth LLC raised its position in shares of Leggett & Platt by 25.8% during the second quarter. Corient Private Wealth LLC now owns 66,802 shares of the company's stock worth $596,000 after purchasing an additional 13,712 shares during the period. Caxton Associates LLP acquired a new position in shares of Leggett & Platt during the second quarter worth approximately $203,000. Public Sector Pension Investment Board raised its position in shares of Leggett & Platt by 8.1% during the second quarter. Public Sector Pension Investment Board now owns 460,771 shares of the company's stock worth $4,110,000 after purchasing an additional 34,559 shares during the period. Finally, Evergreen Capital Management LLC raised its position in shares of Leggett & Platt by 72.3% during the second quarter. Evergreen Capital Management LLC now owns 18,653 shares of the company's stock worth $167,000 after purchasing an additional 7,830 shares during the period. 64.23% of the stock is owned by institutional investors and hedge funds.

Leggett & Platt Company Profile

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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