The Goldman Sachs Group Cuts Leggett & Platt (NYSE:LEG) Price Target to $12.00

Leggett & Platt (NYSE:LEG) had its price target lowered by The Goldman Sachs Group from $14.00 to $12.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 16.85% from the company’s current price.

Separately, Piper Sandler upgraded Leggett & Platt from an “underweight” rating to a “neutral” rating and increased their target price for the company from $11.00 to $13.00 in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $12.67.

Leggett & Platt Trading Up 0.9 %

NYSE:LEG opened at $10.27 on Tuesday. The company has a market capitalization of $1.38 billion, a P/E ratio of -1.71 and a beta of 1.11. 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 has a 12 month low of $9.18 and a 12 month high of $25.29. The firm has a fifty day simple moving average of $11.11 and a 200-day simple moving average of $12.04.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. On average, equities research analysts anticipate that Leggett & Platt will post 1.05 earnings per share for the current year.

Hedge Funds Weigh In On Leggett & Platt

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Oak Thistle LLC purchased a new stake in shares of Leggett & Platt in the fourth quarter valued at about $856,000. Pallas Capital Advisors LLC purchased a new stake in Leggett & Platt in the 4th quarter valued at about $99,000. International Assets Investment Management LLC acquired a new position in Leggett & Platt in the fourth quarter valued at about $337,000. Diversified Trust Co purchased a new position in Leggett & Platt during the fourth quarter worth about $255,000. Finally, GAMMA Investing LLC increased its position in shares of Leggett & Platt by 2,069.7% during the fourth quarter. GAMMA Investing LLC now owns 12,302 shares of the company’s stock valued at $118,000 after acquiring an additional 11,735 shares during the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

About Leggett & Platt

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.