Truist Financial Cuts Leggett & Platt (NYSE:LEG) Price Target to $11.00

Leggett & Platt (NYSE:LEG - Get Free Report) had its price objective decreased by investment analysts at Truist Financial from $13.00 to $11.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's price objective would indicate a potential upside of 2.86% from the company's current price.

Several other equities research analysts have also recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Piper Sandler upgraded Leggett & Platt from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $11.00 to $13.00 in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, According to MarketBeat.com, Leggett & Platt presently has an average rating of "Hold" and a consensus target price of $12.00.

Leggett & Platt Stock Up 2.2 %

Leggett & Platt stock traded up $0.23 during mid-day trading on Wednesday, hitting $10.69. The company's stock had a trading volume of 1,592,578 shares, compared to its average volume of 1,623,827. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.48 and a quick ratio of 0.84. Leggett & Platt has a 52-week low of $9.18 and a 52-week high of $24.22. The firm's 50 day moving average is $10.82 and its 200 day moving average is $11.99. The company has a market cap of $1.44 billion, a PE ratio of -1.78 and a beta of 1.11.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its earnings results on Monday, October 28th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the business posted $0.36 EPS. The firm's quarterly revenue was down 6.3% on a year-over-year basis. On average, 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 large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in Leggett & Platt by 76.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company's stock worth $28,000 after acquiring an additional 884 shares during the last quarter. Applied Capital LLC FL grew its stake in Leggett & Platt by 5.4% in the 3rd quarter. Applied Capital LLC FL now owns 25,987 shares of the company's stock valued at $354,000 after buying an additional 1,327 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Leggett & Platt in the 3rd quarter valued at about $29,000. Bleakley Financial Group LLC lifted its position in Leggett & Platt by 8.1% during the third quarter. Bleakley Financial Group LLC now owns 33,352 shares of the company's stock worth $454,000 after acquiring an additional 2,501 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Leggett & Platt during the third quarter worth approximately $37,000. Institutional investors own 64.23% of the company's stock.

About Leggett & Platt

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.