Leggett & Platt, Incorporated (NYSE:LEG) Receives $48.20 Average Target Price from Analysts

Leggett & Platt, Incorporated (NYSE:LEG) has earned a consensus rating of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $48.20.

A number of equities analysts have issued reports on LEG shares. Raymond James upped their target price on Leggett & Platt from $48.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, May 5th. Zacks Investment Research lowered Leggett & Platt from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a research report on Tuesday, April 20th.

In other news, Director Judy C. Odom sold 15,177 shares of the stock in a transaction on Tuesday, May 11th. The stock was sold at an average price of $56.65, for a total value of $859,777.05. Following the completion of the transaction, the director now owns 50,615 shares of the company’s stock, valued at $2,867,339.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Susan R. Mccoy sold 1,000 shares of the stock in a transaction on Friday, May 7th. The stock was sold at an average price of $56.76, for a total value of $56,760.00. Following the completion of the transaction, the senior vice president now directly owns 27,053 shares of the company’s stock, valued at approximately $1,535,528.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,677 shares of company stock valued at $1,282,302. 1.32% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Leggett & Platt during the first quarter valued at about $26,000. Stonebridge Capital Advisors LLC bought a new position in Leggett & Platt during the first quarter valued at about $28,000. Oder Investment Management LLC purchased a new stake in shares of Leggett & Platt during the fourth quarter valued at $31,000. AGF Investments LLC lifted its holdings in shares of Leggett & Platt by 293.5% during the first quarter. AGF Investments LLC now owns 732 shares of the company’s stock valued at $33,000 after purchasing an additional 546 shares during the last quarter. Finally, Trustcore Financial Services LLC purchased a new stake in shares of Leggett & Platt during the first quarter valued at $46,000. 72.18% of the stock is owned by institutional investors and hedge funds.

Leggett & Platt stock opened at $53.43 on Tuesday. The business’s 50 day moving average is $52.34. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 2.01 and a beta of 1.49. The company has a quick ratio of 0.99, a current ratio of 1.80 and a debt-to-equity ratio of 1.34. Leggett & Platt has a one year low of $31.10 and a one year high of $59.16.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Monday, May 3rd. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.42 by $0.22. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Leggett & Platt had a return on equity of 24.02% and a net margin of 6.60%. Leggett & Platt’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. On average, sell-side analysts anticipate that Leggett & Platt will post 2.71 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Tuesday, June 15th will be paid a dividend of $0.42 per share. This is an increase from Leggett & Platt’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Monday, June 14th. Leggett & Platt’s dividend payout ratio is presently 75.12%.

Leggett & Platt Company Profile

Leggett & Platt, Incorporated designs, manufactures, and markets engineered components and products worldwide. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, foam chemicals and additives, innersprings, specialty foams, private label finished mattresses, mattress foundations, wire forms for adjustable beds, industrial sewing and quilting machines, and mattress packaging and glue drying equipment, as well as machines to shape wires into innersprings for industrial users of steel rods and wires, manufacturers of finished bedding, big box and e-commerce retailers, bedding brands and mattress retailers, department stores, and home improvement centers.

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