Investors in cash trouble should check out Leggett & Platt Incorporated (LEG)

Leggett & Platt Incorporated (NYSE: LEG) stock jumped 0.35% on Friday to $40.54 against a previous-day closing price of $40.40. With 1.01 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.11 million shares. During the session, the Furnishings Fixtures & Appliances company that operates in wider Consumer Cyclical sector, reached to the highest price of $40.64 whereas the lowest price it dropped to was $40.12. The 52-week range on LEG shows that it touched its highest point at $49.94 and its lowest point at $33.19 during that stretch. It currently has a 1-year price target of $43.00. With its current market cap of 5.28 billion, LEG has annualized dividend of $1.76 while the current yield stands at 4.34%. Beta for the stock currently stands at 1.34.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LEG was up-trending over the past week, with a rise of 1.05%, but this was up by 14.71% over a month. Three-month performance surged to 6.32% while six-month performance rose 3.29%. The stock lost -15.70% in the past year, while it has lost -1.51% so far this year. A look at the trailing 12-month EPS for LEG yields 2.96 with Next year EPS estimates of 2.76. For the next quarter, that number is 0.70. This implies an EPS growth rate of 58.10% for this year and 1.47% for next year. EPS is expected to grow by 5.20% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 2.40%.

Float and Shares Shorts:

At present, 136.60 million LEG shares are outstanding with a float of 131.71 million shares on hand for trading. On Jul 14, 2022, short shares totaled 8.4 million, which was 6.29% higher than short shares on Jun 14, 2022. In addition to Mr. Karl G. Glassman as the firm’s Exec. Chairman, Mr. J. Mitchell Dolloff serves as its CEO, Pres & Director.

Institutional Ownership:

Through their ownership of 76.68% of LEG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.57% of LEG, in contrast to 46.02% held by mutual funds. Shares owned by individuals account for 30.08%. As the largest shareholder in LEG with 10.86% of the stake, SSgA Funds Management, Inc. holds 14,506,308 shares worth 14,506,308. A second-largest stockholder of LEG, BlackRock Fund Advisors, holds 13,505,285 shares, controlling over 10.11% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in LEG, holding 11,537,231 shares or 8.64% stake. With a 8.79% stake in LEG, the SPDR S&P Dividend ETF is the largest stakeholder. A total of 11,738,646 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.95% of LEG stock, is the second-largest Mutual Fund holder. It holds 3,944,693 shares valued at 136.41 million. iShares Core S&P Mid Cap ETF holds 2.88% of the stake in LEG, owning 3,844,945 shares worth 132.96 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LEG since 4 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With LEG analysts setting a high price target of $45.00 and a low target of $37.00, the average target price over the next 12 months is $41.00. Based on these targets, LEG could surge 11.0% to reach the target high and fall by -8.73% to reach the target low. Reaching the average price target will result in a growth of 1.13% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. LEG will report FY 2022 earnings on 02/06/2023. Analysts have provided yearly estimates in a range of $2.75 being high and $2.67 being low. For LEG, this leads to a yearly average estimate of $2.71. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Leggett & Platt Incorporated reported $0.70 EPS against a consensus estimate of $0.70. The surprise factor in the prior quarter was $0.10. Based on analyst estimates, the high estimate for the next quarter is $0.71 and the low estimate is $0.67. The average estimate for the next quarter is thus $0.69.

Summary of Insider Activity:

Insiders traded LEG stock several times over the past three months with 127 Buys and 3 Sells. In these transactions, 23,035 shares were bought while 3,017 shares were sold. The number of buy transactions has increased to 567 while that of sell transactions has risen to 41 over the past year. The total number of shares bought during that period was 422,602 while 74,243 shares were sold.

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