Leggett & Platt (NYSE:LEG) Given New $11.00 Price Target at Truist Financial

Key Points

• Price target cut to $11: Truist reduced its price target from $13.00 to $11.00 and keeps a "hold" rating, consistent with a consensus "Hold" and an average analyst target of about $11.33.
• Q1 results missed: Leggett & Platt reported EPS of $0.15 (vs. ~$0.26 est.) and revenue of $918.2M (vs. ~$946.8M), with sales down ~10% year‑over‑year and shares trading around $10.04.
• Guidance withdrawn amid M&A: Management paused 2026 guidance because of a pending Somnigroup acquisition, creating near‑term uncertainty despite ongoing restructuring efforts management says will improve margins.

Leggett & Platt (NYSE:LEG - Get Free Report) had its price target reduced by equities research analysts at Truist Financial from $13.00 to $11.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's price target suggests a potential upside of 9.62% from the company's previous close.

A number of other brokerages have also recently issued reports on LEG. Weiss Ratings upgraded Leggett & Platt from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 1st. Wall Street Zen cut Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday, February 21st. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $11.33.

Leggett & Platt Price Performance

Shares of NYSE LEG traded down $0.27 during mid-day trading on Friday, reaching $10.04. The company had a trading volume of 1,300,273 shares, compared to its average volume of 2,240,609. The company has a current ratio of 2.25, a quick ratio of 1.45 and a debt-to-equity ratio of 1.46. The stock has a market cap of $1.37 billion, a PE ratio of 5.94 and a beta of 0.75. The company has a 50-day moving average price of $10.64 and a two-hundred day moving average price of $10.84. Leggett & Platt has a 1-year low of $7.86 and a 1-year high of $13.00.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.11). The company had revenue of $918.20 million during the quarter, compared to analyst estimates of $946.79 million. Leggett & Platt had a return on equity of 15.00% and a net margin of 5.80%.The business's revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, equities analysts anticipate that Leggett & Platt will post 1.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. purchased a new position in shares of Leggett & Platt during the first quarter valued at $70,000. Balefire LLC purchased a new position in shares of Leggett & Platt during the first quarter valued at $726,000. KBC Group NV grew its holdings in shares of Leggett & Platt by 79.6% during the first quarter. KBC Group NV now owns 7,080 shares of the company's stock valued at $70,000 after buying an additional 3,137 shares in the last quarter. Kera Capital Partners Inc. grew its holdings in shares of Leggett & Platt by 15.0% during the first quarter. Kera Capital Partners Inc. now owns 19,995 shares of the company's stock valued at $198,000 after buying an additional 2,613 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in Leggett & Platt by 15.5% during the first quarter. Illinois Municipal Retirement Fund now owns 77,290 shares of the company's stock valued at $764,000 after purchasing an additional 10,376 shares during the last quarter. Hedge funds and other institutional investors own 64.23% of the company's stock.

Key Headlines Impacting Leggett & Platt

Here are the key news stories impacting Leggett & Platt this week:

• Positive Sentiment: Restructuring progress: management said multi-year restructuring actions continue to reduce costs and deliver EBIT benefits, which supports margin recovery and improves the company’s longer‑term earnings profile. Leggett & Platt Reports 1Q 2026 Results
• Neutral Sentiment: Pending Somnigroup acquisition: Leggett disclosed a pending deal with Somnigroup; M&A can be accretive or deliver a takeover premium, but it also creates near‑term uncertainty until consummated. Management has paused guidance while the transaction progresses. Leggett & Platt Withdraws 2026 Outlook Amid Somnigroup Deal
• Negative Sentiment: Earnings and revenue misses: Q1 adjusted EPS of $0.15 missed the ~$0.26 consensus and revenue of $918.2M missed estimates (~$946.8M), with sales down ~10% year‑over‑year — the core driver of selling pressure. Leggett & Platt NYSE: LEG Misses Q1 CY2026 Revenue Estimates
• Negative Sentiment: Guidance withdrawal and market reaction: withdrawing 2026 guidance amid the deal increases uncertainty for analysts and investors; reports show shares slid after the combination of the earnings miss and the guidance pause. Leggett & Platt (LEG) shares slide after earnings miss and guidance withdrawal

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.

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