Truist Financial Cuts Leggett & Platt (NYSE:LEG) Price Target to $11.00

Leggett & Platt (NYSE:LEG) had its price target reduced by Truist Financial from $13.00 to $11.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a hold rating on the stock.

Several other equities analysts also recently issued reports on LEG. Wall Street Zen downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings upgraded Leggett & Platt from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 1st. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.33.

Leggett & Platt Stock Performance

Shares of LEG stock opened at $10.06 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.33 and a debt-to-equity ratio of 1.44. The business has a 50 day moving average of $10.64 and a two-hundred day moving average of $10.84. The company has a market cap of $1.37 billion, a P/E ratio of 6.25 and a beta of 0.75. Leggett & Platt has a 52 week low of $7.86 and a 52 week high of $13.00.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.11). The business had revenue of $918.20 million for the quarter, compared to analyst estimates of $946.79 million. Leggett & Platt had a return on equity of 12.62% and a net margin of 5.69%.The business’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. As a group, analysts anticipate that Leggett & Platt will post 1.08 EPS for the current year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, March 13th. Leggett & Platt’s dividend payout ratio is 12.42%.

Institutional Investors Weigh In On Leggett & Platt

A number of institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its holdings in shares of Leggett & Platt by 32.0% in the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock valued at $36,000 after buying an additional 783 shares in the last quarter. Optimize Financial Inc increased its holdings in shares of Leggett & Platt by 1.5% in the fourth quarter. Optimize Financial Inc now owns 60,507 shares of the company’s stock valued at $666,000 after buying an additional 868 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Leggett & Platt by 8.4% in the first quarter. Jones Financial Companies Lllp now owns 14,661 shares of the company’s stock valued at $116,000 after buying an additional 1,132 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Leggett & Platt by 12.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,271 shares of the company’s stock valued at $113,000 after buying an additional 1,152 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Leggett & Platt by 1.8% in the fourth quarter. State of Alaska Department of Revenue now owns 76,948 shares of the company’s stock valued at $845,000 after buying an additional 1,338 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Leggett & Platt

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

• Positive Sentiment: Management said restructuring actions continued to support EBIT, suggesting the company is still making progress on improving its earnings profile despite the weak quarter. Leggett & Platt Reports 1Q 2026 Results
• Neutral Sentiment: Truist Financial lowered its price target on Leggett & Platt from $13 to $11 but kept a Hold rating, signaling a more cautious but not outright bearish stance. Truist Cuts Price Target on Leggett & Platt
• Negative Sentiment: Leggett & Platt reported Q1 adjusted EPS of $0.15, well below the $0.26 consensus estimate, while revenue of $918.2 million also missed expectations and fell 10.2% year over year. Leggett & Platt Reports 1Q 2026 Results
• Negative Sentiment: The company withdrew its 2026 outlook due to the pending acquisition by Somnigroup International, which removes near-term guidance and adds uncertainty for investors. Leggett & Platt Withdraws 2026 Outlook Amid Somnigroup Deal

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.