Leggett & Platt (NYSE:LEG) Raised to Hold at Zacks Research

Key Points

• Leggett & Platt was upgraded from a "strong sell" to a "hold" rating by Zacks Research, indicating a more optimistic outlook for the company's stock.
• As of the latest earnings report, Leggett & Platt reported a quarterly EPS of $0.30, beating expectations, although revenue declined by 6.3% year-over-year.
• A majority of analysts currently rate the stock as "hold," with one analyst issuing a sell rating, reflecting mixed sentiment in the market.

Leggett & Platt (NYSE:LEG - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts also recently commented on LEG. Piper Sandler restated a "neutral" rating and set a $9.00 price target (down from $10.00) on shares of Leggett & Platt in a research report on Monday, August 4th. Weiss Ratings restated a "sell (d)" rating on shares of Leggett & Platt in a research report on Wednesday. Finally, Wall Street Zen downgraded shares of Leggett & Platt from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $9.67.

Leggett & Platt Trading Down 1.9%

Leggett & Platt stock opened at $8.73 on Wednesday. The company has a quick ratio of 1.36, a current ratio of 2.17 and a debt-to-equity ratio of 2.09. The firm has a 50-day moving average price of $9.23 and a two-hundred day moving average price of $8.99. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 8.48 and a beta of 0.72. Leggett & Platt has a 52-week low of $6.47 and a 52-week high of $13.62.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.01. Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm earned $0.29 EPS. Leggett & Platt's revenue was down 6.3% on a year-over-year basis. Leggett & Platt has set its FY 2025 guidance at 1.000-1.200 EPS. Sell-side analysts expect that Leggett & Platt will post 1.14 earnings per share for the current year.

Institutional Investors Weigh In On Leggett & Platt

Large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new stake in shares of Leggett & Platt during the second quarter valued at approximately $76,000. SeaCrest Wealth Management LLC acquired a new position in Leggett & Platt in the 2nd quarter valued at approximately $89,000. Captrust Financial Advisors acquired a new position in Leggett & Platt in the 2nd quarter valued at approximately $91,000. Aaron Wealth Advisors LLC acquired a new position in Leggett & Platt in the 3rd quarter valued at approximately $92,000. Finally, PDT Partners LLC acquired a new position in Leggett & Platt in the 2nd quarter valued at approximately $94,000. Institutional investors and hedge funds own 64.23% of the company's stock.

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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