The stock of Leggett & Platt Incorporated (NYSE:LEG) decreased by -$0.07 on Friday to finish at $27.66, down -0.25 percent. The last five days have seen an average of 850,360 shares of common stock traded. 11 times new highs were reached in the current year, with a fall of -$4.57. The average number of shares traded over the last 20 days was 1,794,490, while the average volume over the last 50 days totaled 1,489,616.
LEG stock dropped -6.52% since last month. On 08/23/23, the company’s shares reached a one-month low of $27.22. The stock touched a high of $40.49 on 02/02/23, after rallying from a low of $27.22 in 52 weeks. The price of LEG stock has declined by -14.18% or -$4.57 this year, reaching a new high 11 times. Still, the stock price is down -31.69% from the 52-week high.
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Insider Transactions
LEG stock investors should be aware that Leggett & Platt Incorporated (LEG) stock had its last reported insider trading activity 97 days ago on May 23. On May 23, Director WOOD PHOEBE A sold 6,000 shares at $32.61 each. This transaction resulted in the insider making $195,679. On Mar 01, MCCOY SUSAN R sold 1,378 shares at a price of US$34.51. After the transaction, the insider now owns 30,202 shares. SVP-Gen. Counsel and Secretary Douglas Scott S had earlier sold 27,000 shares on Feb 28 for $34.70 a share. The transaction was completed for $936,768.
Valuation Metrics
Leggett & Platt Incorporated (LEG) has a trailing price-to-earnings (P/E) ratio of 16.25. Beta for the stock is 1.29. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.75, the price-to-book (PB) ratio of 2.26, and the price-to-cash flow ratio of 9.42.
Company paid $0.46 per share in dividends, remained unchanged from $0.46 last year.
Financial Health
For the three months ended June 29, Leggett & Platt Incorporated’s quick ratio was 1.10, while its current ratio was 2.00, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.21, and the total debt to equity ratio is 1.21. As far as profitability goes, gross margin for the trailing twelve months is 17.90% percent. Leggett & Platt Incorporated’s EBITDA margin for the year ended June 29 was 12.77%, whereas its operating margin stood at 7.90% for the same period. Based on annual data, it had gross profit of $976.8 million and revenue of $5.15 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. LEG’s return on assets (ROA) during the last 12 months has been 4.50%. There was a 10.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 14.20%.
Earnings Surprise
According to Leggett & Platt Incorporated’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.22 billion, while revenues fell by -9.26% to $1.21 billion. It was predicted that Leggett & Platt Incorporated’s quarterly earnings would be $0.38, but it ended up being $0.39, beating the consensus by -2.60%. EBITDA was $129.8 million for the quarter. At the end of Leggett & Platt Incorporated’s most recent quarter ended June 29, its liabilities totaled 3.48 billion, while its total debt was $2.25 billion. Equity owned by shareholders amounts to $133.19 million.
Technical Picture
Here’s a quick look at Leggett & Platt Incorporated’s (LEG) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 30.47%, suggesting the stock is Neutral, with a 11.07% historical volatility rate.
The stochastic %K and %D were 17.12% and 13.48% respectively, while the average true range (ATR) was 0.57. Based on the 14-day stochastic reading of 16.86%, the RSI (14) reading is 33.75%. On the 9-day MACD Oscillator, the stock is at -0.02, and the 14-day reading is at -0.52.
Analyst Ratings
Leggett & Platt Incorporated (NYSE: LEG) was downgraded by Goldman to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Leggett & Platt Incorporated (LEG) an Underweight rating. LEG is a stock that is recommended for selling by 1 brokerage firm, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 0 others recommend it as a buy.
What is LEG’s price target for the next 12 months?
The current consensus forecast for the stock is between $21.00 and $32.00, with a median target price of $31.00. In analyzing these forecasts, the average price target given by analysts for Leggett & Platt Incorporated (LEG) is $28.00.
