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

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

A number of other analysts have also commented on the company. Piper Sandler reissued a "neutral" rating and set a $9.00 price target (down from $12.00) on shares of Leggett & Platt in a research note 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 company a "neutral" rating in a report on Wednesday, April 30th.

Leggett & Platt Price Performance

LEG stock traded up $0.34 during trading on Friday, reaching $9.91. 3,327,187 shares of the company were exchanged, compared to its average volume of 2,198,568. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -2.65 and a beta of 0.74. The company has a debt-to-equity ratio of 2.59, a current ratio of 2.20 and a quick ratio of 1.36. The company has a 50-day moving average of $9.28 and a two-hundred day moving average of $9.08. 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 announced its quarterly earnings results on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. Leggett & Platt had a negative net margin of 11.89% and a positive return on equity of 20.46%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business earned $0.23 earnings per share. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, equities analysts predict that Leggett & Platt will post 1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Leggett & Platt

Institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC acquired a new position in shares of Leggett & Platt in the fourth quarter worth approximately $158,000. SRS Capital Advisors Inc. increased its position in Leggett & Platt by 555.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock valued at $30,000 after purchasing an additional 2,629 shares during the period. Jones Financial Companies Lllp raised its holdings in Leggett & Platt by 29.3% during the 4th quarter. Jones Financial Companies Lllp now owns 13,529 shares of the company's stock worth $130,000 after purchasing an additional 3,069 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Leggett & Platt in the 4th quarter worth approximately $50,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Leggett & Platt by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,751,066 shares of the company's stock worth $45,610,000 after purchasing an additional 214,571 shares during the period. Institutional investors own 64.23% of the company's stock.

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.