Leggett & Platt, Inc. (NYSE:LEG) has been assigned a consensus recommendation of “Hold” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $45.00.

Several analysts have recently weighed in on the stock. Raymond James cut shares of Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $44.00 price objective on the stock. in a research report on Monday, October 29th. Gabelli cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Zacks Investment Research lowered shares of Leggett & Platt from a “hold” rating to a “sell” rating in a report on Thursday, February 7th. SunTrust Banks reduced their target price on shares of Leggett & Platt to $40.00 and set an “outperform” rating on the stock in a report on Tuesday, October 30th. Finally, TheStreet lowered shares of Leggett & Platt from a “b-” rating to a “c+” rating in a report on Friday, October 26th.

Shares of Leggett & Platt stock traded up $0.57 on Friday, hitting $44.95. 944,627 shares of the company traded hands, compared to its average volume of 1,179,113. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.09 and a current ratio of 1.87. The stock has a market cap of $5.86 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 1.92 and a beta of 1.09. Leggett & Platt has a 12-month low of $33.48 and a 12-month high of $47.44.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Monday, February 4th. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Leggett & Platt had a net margin of 7.16% and a return on equity of 28.99%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. On average, analysts predict that Leggett & Platt will post 2.53 earnings per share for the current year.

In related news, Director Joseph W. Mcclanathan sold 10,143 shares of the stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $43.83, for a total transaction of $444,567.69. Following the transaction, the director now owns 26,034 shares of the company’s stock, valued at approximately $1,141,070.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.52% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in LEG. FMR LLC grew its holdings in Leggett & Platt by 31.4% in the 2nd quarter. FMR LLC now owns 53,563 shares of the company’s stock worth $2,391,000 after acquiring an additional 12,796 shares during the last quarter. Millennium Management LLC bought a new stake in Leggett & Platt in the 2nd quarter worth $4,020,000. Advisors Asset Management Inc. grew its holdings in Leggett & Platt by 919.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 96,020 shares of the company’s stock worth $356,000 after acquiring an additional 86,600 shares during the last quarter. DNB Asset Management AS grew its holdings in Leggett & Platt by 23.4% in the 3rd quarter. DNB Asset Management AS now owns 15,279 shares of the company’s stock worth $669,000 after acquiring an additional 2,900 shares during the last quarter. Finally, Hexavest Inc. grew its holdings in Leggett & Platt by 25.5% in the 3rd quarter. Hexavest Inc. now owns 6,124 shares of the company’s stock worth $268,000 after acquiring an additional 1,245 shares during the last quarter. 78.11% of the stock is currently owned by institutional investors.

About Leggett & Platt

Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.

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Analyst Recommendations for Leggett & Platt (NYSE:LEG)

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