Leggett & Platt (NYSE:LEG) Rating Increased to Buy at Wall Street Zen

Leggett & Platt (NYSE:LEG - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Several other research firms have also weighed in on LEG. Piper Sandler reaffirmed a "neutral" rating and set a $9.00 price objective (down previously from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th. The Goldman Sachs Group raised their price objective on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th.

Leggett & Platt Price Performance

Shares of NYSE LEG traded down $0.39 during mid-day trading on Friday, hitting $9.54. 1,215,204 shares of the stock were exchanged, compared to its average volume of 2,196,090. The company has a market cap of $1.29 billion, a P/E ratio of -2.55 and a beta of 0.74. The stock's fifty day simple moving average is $9.23 and its two-hundred day simple moving average is $9.09. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.36 and a current ratio of 2.20. Leggett & Platt has a twelve month low of $6.48 and a twelve month high of $14.24.

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, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Leggett & Platt had a negative net margin of 11.89% and a positive return on equity of 20.46%. The company's revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. As a group, analysts forecast that Leggett & Platt will post 1.14 EPS for the current fiscal year.

Institutional Trading of Leggett & Platt

Several hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC grew its stake in shares of Leggett & Platt by 113.5% during the first quarter. Acadian Asset Management LLC now owns 109,638 shares of the company's stock valued at $866,000 after purchasing an additional 58,292 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Leggett & Platt by 36.3% during the first quarter. Jane Street Group LLC now owns 1,175,452 shares of the company's stock valued at $9,298,000 after purchasing an additional 312,840 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Leggett & Platt by 3.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 454,096 shares of the company's stock valued at $3,592,000 after purchasing an additional 13,187 shares during the last quarter. Dean Capital Management grew its stake in shares of Leggett & Platt by 149.2% during the first quarter. Dean Capital Management now owns 113,878 shares of the company's stock valued at $901,000 after purchasing an additional 68,181 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Leggett & Platt by 8.4% in the first quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company's stock valued at $116,000 after acquiring an additional 1,132 shares during the last quarter. 64.23% of the stock is owned by 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.