Leggett & Platt (NYSE:LEG) Shares Down 4.6% – What’s Next?

Leggett & Platt, Incorporated (NYSE:LEG) shares traded down 4.6% on Tuesday . The company traded as low as $9.85 and last traded at $9.97. 187,836 shares were traded during mid-day trading, a decline of 89% from the average session volume of 1,659,710 shares. The stock had previously closed at $10.45.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LEG shares. Truist Financial cut their target price on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. Piper Sandler upgraded Leggett & Platt from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $11.00 to $13.00 in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group decreased their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, Leggett & Platt currently has a consensus rating of “Hold” and an average price target of $12.00.

Leggett & Platt Price Performance

The firm has a market cap of $1.36 billion, a PE ratio of -1.68 and a beta of 1.12. The company has a 50 day moving average price of $10.29 and a 200 day moving average price of $11.74. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. On average, sell-side analysts expect that Leggett & Platt, Incorporated will post 1.05 EPS for the current year.

Hedge Funds Weigh In On Leggett & Platt

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PharVision Advisers LLC purchased a new position in shares of Leggett & Platt during the 4th quarter worth approximately $467,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Leggett & Platt by 13.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 440,909 shares of the company’s stock worth $4,233,000 after buying an additional 51,841 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Leggett & Platt by 49.6% in the fourth quarter. Squarepoint Ops LLC now owns 345,589 shares of the company’s stock worth $3,318,000 after acquiring an additional 114,536 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Leggett & Platt by 82.1% in the fourth quarter. Two Sigma Advisers LP now owns 630,100 shares of the company’s stock worth $6,049,000 after acquiring an additional 284,100 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Leggett & Platt by 45.1% during the fourth quarter. Two Sigma Investments LP now owns 874,668 shares of the company’s stock valued at $8,397,000 after acquiring an additional 271,917 shares during the last quarter. Institutional investors and hedge funds 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.