Leggett & Platt (NYSE:LEG) Stock Price Down 4.6% - Here's Why

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

Analyst Ratings Changes

A number of analysts recently commented on the company. Truist Financial dropped their price objective on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a research report on Wednesday, January 29th. The Goldman Sachs Group dropped their price objective on Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Finally, Piper Sandler upgraded Leggett & Platt from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock 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, the company presently has a consensus rating of "Hold" and a consensus price target of $12.00.

Leggett & Platt Stock Down 2.5 %

The company has a market cap of $1.28 billion, a PE ratio of -2.56 and a beta of 1.12. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. The firm has a fifty day simple moving average of $10.15 and a 200 day simple moving average of $11.67.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. Equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Institutional Investors Weigh In On Leggett & Platt

Hedge funds have recently modified their holdings of the stock. PharVision Advisers LLC purchased a new position in shares of Leggett & Platt in the 4th quarter worth about $467,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Leggett & Platt by 13.3% in the 4th 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 purchasing an additional 51,841 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Leggett & Platt by 49.6% in the 4th quarter. Squarepoint Ops LLC now owns 345,589 shares of the company's stock worth $3,318,000 after purchasing an additional 114,536 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Leggett & Platt by 82.1% in the 4th quarter. Two Sigma Advisers LP now owns 630,100 shares of the company's stock worth $6,049,000 after purchasing an additional 284,100 shares during the period. Finally, Two Sigma Investments LP raised its holdings in shares of Leggett & Platt by 45.1% in the 4th quarter. Two Sigma Investments LP now owns 874,668 shares of the company's stock worth $8,397,000 after purchasing an additional 271,917 shares during the period. 64.23% of the stock is owned by institutional investors and hedge funds.

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.