Leggett & Platt (NYSE:LEG) Shares Gap Up – What’s Next?

Shares of Leggett & Platt, Incorporated (NYSE:LEG) gapped up prior to trading on Friday . The stock had previously closed at $10.00, but opened at $10.78. Leggett & Platt shares last traded at $11.03, with a volume of 525,310 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LEG shares. 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 note on Wednesday, October 30th. Truist Financial cut their price objective on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group decreased their target price 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. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Leggett & Platt presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Leggett & Platt Price Performance

The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13. The business’s fifty day moving average is $10.32 and its 200 day moving average is $11.77. The company has a market cap of $1.40 billion, a P/E ratio of -1.73 and a beta of 1.12.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The firm 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%. As a group, sell-side analysts anticipate that Leggett & Platt, Incorporated will post 1.05 EPS for the current year.

Hedge Funds Weigh In On Leggett & Platt

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC lifted its stake in shares of Leggett & Platt by 273.2% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 167,706 shares of the company’s stock valued at $1,610,000 after buying an additional 122,765 shares in the last quarter. AQR Capital Management LLC raised its holdings in Leggett & Platt by 12.4% during the 4th quarter. AQR Capital Management LLC now owns 1,632,152 shares of the company’s stock valued at $15,669,000 after acquiring an additional 179,938 shares during the period. Quarry LP purchased a new stake in shares of Leggett & Platt during the fourth quarter worth $213,000. Oxford Asset Management LLP bought a new position in shares of Leggett & Platt in the fourth quarter worth $165,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Leggett & Platt in the fourth quarter valued at $455,000. Institutional investors 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.