Leggett & Platt (NYSE:LEG) Stock Price Down 4.6% – Time to Sell?

Leggett & Platt, Incorporated (NYSE:LEG) was down 4.6% on Tuesday . The stock traded as low as $9.85 and last traded at $9.97. Approximately 187,836 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 1,659,710 shares. The stock had previously closed at $10.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Truist Financial decreased their price target on Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $11.00 to $13.00 in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group reduced their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.00.

Leggett & Platt Stock Down 1.5 %

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 company has a fifty day simple moving average of $10.22 and a two-hundred day simple moving average of $11.71. The firm has a market capitalization of $1.31 billion, a PE ratio of -2.62 and a beta of 1.12.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. Analysts forecast that Leggett & Platt, Incorporated will post 1.11 EPS for the current fiscal year.

Institutional Trading of Leggett & Platt

A number of institutional investors have recently modified their holdings of LEG. Wellington Management Group LLP purchased a new stake in Leggett & Platt during the third quarter valued at approximately $15,735,000. Invenomic Capital Management LP grew its stake in Leggett & Platt by 384.1% during the 3rd quarter. Invenomic Capital Management LP now owns 921,472 shares of the company’s stock worth $12,550,000 after buying an additional 731,132 shares during the last quarter. Vanguard Group Inc. increased its position in Leggett & Platt by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company’s stock valued at $148,593,000 after buying an additional 722,024 shares in the last quarter. FMR LLC raised its stake in Leggett & Platt by 3,264.5% in the third quarter. FMR LLC now owns 692,884 shares of the company’s stock valued at $9,437,000 after buying an additional 672,290 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Leggett & Platt in the fourth quarter worth about $5,858,000. 64.23% of the stock is currently owned by institutional investors.

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.