Leggett & Platt (NYSE:LEG) Sets New 12-Month High – What’s Next?

Leggett & Platt, Incorporated (NYSE:LEG)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $12.78 and last traded at $12.4150, with a volume of 601522 shares trading hands. The stock had previously closed at $12.19.

Analyst Upgrades and Downgrades

LEG has been the topic of several recent research reports. Wall Street Zen cut Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Truist Financial lifted their target price on Leggett & Platt from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. Zacks Research cut Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Piper Sandler increased their price target on Leggett & Platt from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Leggett & Platt in a research report on Monday, December 29th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.67.

Leggett & Platt Stock Performance

The stock has a market capitalization of $1.72 billion, a PE ratio of 7.87 and a beta of 0.72. The stock has a 50 day moving average of $11.67 and a two-hundred day moving average of $10.11. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.15 and a quick ratio of 1.35.

Institutional Investors Weigh In On Leggett & Platt

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Palisade Asset Management LLC acquired a new stake in shares of Leggett & Platt in the 3rd quarter worth approximately $29,000. Quent Capital LLC purchased a new stake in Leggett & Platt during the third quarter worth $34,000. Advisory Services Network LLC purchased a new stake in Leggett & Platt during the third quarter worth $51,000. Nisa Investment Advisors LLC acquired a new stake in Leggett & Platt in the second quarter valued at $76,000. Finally, HM Payson & Co. purchased a new position in shares of Leggett & Platt in the third quarter valued at $89,000. 64.23% of the stock is currently owned by institutional investors and hedge funds.

About Leggett & Platt

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.