Leggett & Platt (NYSE:LEG) Rating Increased to Strong-Buy at Zacks Research

Leggett & Platt (NYSE:LEG) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports. Zacks Research also issued estimates for Leggett & Platt’s Q3 2026 earnings at $0.28 EPS, Q4 2026 earnings at $0.18 EPS, FY2026 earnings at $1.00 EPS, Q1 2027 earnings at $0.22 EPS, Q2 2027 earnings at $0.32 EPS, Q3 2027 earnings at $0.32 EPS, Q4 2027 earnings at $0.26 EPS, FY2027 earnings at $1.12 EPS, Q1 2028 earnings at $0.28 EPS and Q2 2028 earnings at $0.32 EPS.

Several other research analysts have also recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Leggett & Platt from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, August 12th. Weiss Ratings cut shares of Leggett & Platt from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 29th. Finally, Truist Financial dropped their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.67.

Leggett & Platt Stock Performance

Shares of LEG opened at $9.35 on Wednesday. The company’s fifty day moving average price is $10.65 and its 200 day moving average price is $10.70. Leggett & Platt has a one year low of $8.34 and a one year high of $13.00. The company has a market capitalization of $1.28 billion, a PE ratio of 5.99 and a beta of 0.73. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.35 and a quick ratio of 1.53.

Leggett & Platt (NYSE:LEG) last released its earnings results on Thursday, August 6th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.13. Leggett & Platt had a net margin of 5.64% and a return on equity of 13.31%. The business had revenue of $999.70 million during the quarter, compared to analysts’ expectations of $982.86 million. During the same quarter last year, the company earned $0.30 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. As a group, analysts expect that Leggett & Platt will post 1.04 earnings per share for the current year.

Hedge Funds Weigh In On Leggett & Platt

Several hedge funds have recently bought and sold shares of LEG. BlackRock Inc. acquired a new position in Leggett & Platt during the second quarter valued at approximately $265,194,000. Vanguard Group Inc. boosted its holdings in shares of Leggett & Platt by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 18,990,042 shares of the company’s stock worth $208,890,000 after buying an additional 282,940 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Leggett & Platt by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 3,173,733 shares of the company’s stock worth $34,917,000 after buying an additional 183,218 shares during the period. Quantinno Capital Management LP increased its stake in shares of Leggett & Platt by 22.7% in the 1st quarter. Quantinno Capital Management LP now owns 3,023,884 shares of the company’s stock valued at $29,876,000 after acquiring an additional 559,868 shares in the last quarter. Finally, Invenomic Capital Management LP lifted its position in shares of Leggett & Platt by 4.0% during the 4th quarter. Invenomic Capital Management LP now owns 2,437,519 shares of the company’s stock valued at $26,813,000 after acquiring an additional 93,213 shares during the period. 64.23% of the stock is owned by institutional investors.

Trending Headlines about Leggett & Platt

Here are the key news stories impacting Leggett & Platt this week:

• Positive Sentiment: Zacks Research raised its FY2026 EPS forecast to $1.00 from $0.96 and its FY2027 forecast to $1.12 from $1.08. The improved annual outlook suggests analysts see somewhat stronger earnings momentum beyond the near term.
• Positive Sentiment: Zacks also increased estimates for Q2 2027, Q3 2027, Q4 2027, Q1 2028 and Q2 2028, generally by $0.01 to $0.02 per share. These revisions add to the favorable longer-term earnings narrative.
• Positive Sentiment: LEG was added to several Zacks “Strong Buy” lists covering value, income and overall stock selections. The listings may attract attention from investors seeking a low-priced, dividend-oriented or value opportunity. New Strong Buy Stocks for August 20th
• Neutral Sentiment: Despite the estimate increases, Zacks Research maintains a “Hold” rating. The stock opened at $9.35, below its 50-day and 200-day moving averages of approximately $10.65 and $10.70, respectively, indicating that technical sentiment remains weak.
• Negative Sentiment: Zacks reduced its Q3 2026 EPS estimate to $0.28 from $0.29, Q4 2026 to $0.18 from $0.21, and Q1 2027 to $0.22 from $0.24. The near-term cuts point to continued earnings pressure before the projected improvement in later periods.

Leggett & Platt Company Profile

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.