Analysts Issue Research Notes On Leggett & Platt Incorporated (LEG)

Leggett & Platt Incorporated (NYSE:LEG) finished Friday with a subtraction of -$0.15 to close at $47.39, a downside of -0.32 percent. An average of 606,840 shares of common stock have been traded in the last five days. There was a gain of $1.67 in the past week, and it reached a new high 20 times over the past 12 months. The last 20 days have seen an average of 679,060 shares traded, while the 50-day average volume stands at 640,614.

LEG stock has increased by 2.58% in the last month. The company shares reached their 1-month lowest point of $44.01 on 10/06/21. With the stock rallying to its 52-week high on 05/10/21, shares of the company touched a low of $39.25 and a high of $59.16 in 52 weeks. It has reached a new high 18 times so far this year and achieved 6.98% or $3.09 in price. In spite of this, the price is down -19.90% from the 52-week high.

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Insider Transactions

158 days have passed since Leggett & Platt Incorporated (LEG) last reported insider trading activity. MCCLANATHAN JOSEPH W, who is Director, most recently acquired $1,500 shares at $55.61 per share on May 18. In this transaction, the insider spent $83,410. Director, MCCLANATHAN JOSEPH W, disposed of 5,000 shares at a price of $56.47 on May 14. The insider now owns more than $282,332 worth of shares. Prior to that, Director ODOM JUDY C went on to Sale 15,177 shares at $56.65 each on May 11. An amount of $859,823 was transacted.

Valuation Metrics

Leggett & Platt Incorporated (LEG) has a trailing price-to-earnings (P/E) ratio of 15.85, which compares with the 16.20 for the broader industry and 32.04 for the sector. In the last five years, Leggett & Platt Incorporated’s PE ratio has ranged between 27.33 and 9.097. The stock’s beta is 1.49. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.32, the price-to-book (PB) ratio at 4.21, and the price-to-cash flow ratio at 28.01.

Leggett & Platt Incorporated pays a $1.68 dividend per share annually. It offers a dividend yield of 3.55%. The company has a payout ratio of 54.10%. The company’s most recent quarterly dividend payment took place on Oct. 15, and it was $0.42 a share, without any change from last year. Its dividend has been increased for the last 50 consecutive years with the latest increase dividend $0.02 reported on Monday May 3 2021.Dividends have grown by 12.68% each year over the last three years.

The quick ratio of Leggett & Platt Incorporated for the three months ended June 29 was 0.90, and the current ratio was 1.70, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.29 and a total debt to equity ratio of 1.32 for the quarter ending June 29. Leggett & Platt Incorporated’s EBITDA margin for the year ending June 29 is 13.82%, while its operating margin for the same period stands at 12.40%. Its gross profit as reported stood at $894.5 million compared to revenue of $4.28 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Leggett & Platt Incorporated’s return on assets was 8.40%. For the broader industry, ROE averaged 2.17 over the past year.

Earnings Surprise

For the three-month period that ended June 29, Leggett & Platt Incorporated had $1.97 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $112.2 million in the quarter, while revenues of $87.5 million were grew 105.44%. The analyst consensus anticipated Leggett & Platt Incorporated’s latest quarter earnings to come in at $0.54 per share, but it turned out to be $0.66, a 22.20% surprise. For the quarter, EBITDA amounted to $186.8 million. Shareholders own equity worth $133.3 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Leggett & Platt Incorporated (LEG) price momentum. RSI 9-day as of the close on 22 October was 64.24%, suggesting the stock is Neutral, with historical volatility in this time frame at 21.01%.

As of today, LEG’s price is $46.89 +3.65% or $1.67 from its 5-day moving average. LEG is currently trading +1.72% higher than its 20-day SMA and -13.43% lower than its 100-day SMA. However, the stock’s current price level is -4.47% below the SMA50 and +5.40% above the SMA200.

The stochastic %K and %D were 90.05% and 85.39%, respectively, and the average true range (ATR) was 1.02. With the 14-day stochastic at 77.52% and the average true range at 1.04, the RSI (14) stands at 57.61%. The stock has reached 1.16 on the 9-day MACD Oscillator while the 14-day reading was at 1.49.

Analyst Ratings

Raymond James downgraded Leggett & Platt Incorporated (NYSE: LEG) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Strong buy.


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