Shares of Leggett & Platt, Inc. (NYSE:LEG) have earned an average recommendation of “Hold” from the eight research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $48.00.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. Credit Suisse Group dropped their target price on shares of Leggett & Platt from $51.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, April 27th. Stifel Nicolaus raised shares of Leggett & Platt from a “hold” rating to a “buy” rating and boosted their target price for the stock from $48.00 to $50.00 in a research report on Thursday, May 31st. ValuEngine downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, SunTrust Banks dropped their target price on shares of Leggett & Platt to $48.00 and set a “buy” rating for the company in a research report on Tuesday, May 1st.

LEG opened at $45.35 on Friday. The stock has a market capitalization of $5.81 billion, a PE ratio of 18.43, a P/E/G ratio of 1.60 and a beta of 0.88. Leggett & Platt has a 1-year low of $39.57 and a 1-year high of $51.99. The company has a quick ratio of 1.23, a current ratio of 1.90 and a debt-to-equity ratio of 1.15.

Leggett & Platt (NYSE:LEG) last released its earnings results on Thursday, July 26th. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Leggett & Platt had a net margin of 6.83% and a return on equity of 27.73%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 EPS. equities analysts expect that Leggett & Platt will post 2.62 EPS for the current year.

In related news, Director Robert Ted Enloe III sold 5,328 shares of the business’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $41.47, for a total transaction of $220,952.16. Following the completion of the sale, the director now owns 38,376 shares of the company’s stock, valued at approximately $1,591,452.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Matthew C. Flanigan sold 29,248 shares of the business’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $44.09, for a total transaction of $1,289,544.32. Following the sale, the insider now directly owns 115,039 shares of the company’s stock, valued at approximately $5,072,069.51. The disclosure for this sale can be found here. 1.52% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. Andra AP fonden acquired a new position in Leggett & Platt during the 2nd quarter valued at about $4,544,000. Verition Fund Management LLC acquired a new position in Leggett & Platt during the 2nd quarter valued at about $340,000. Jane Street Group LLC acquired a new position in Leggett & Platt during the 2nd quarter valued at about $674,000. Advisors Asset Management Inc. boosted its stake in Leggett & Platt by 919.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 96,020 shares of the company’s stock valued at $356,000 after purchasing an additional 86,600 shares during the period. Finally, California Public Employees Retirement System boosted its stake in Leggett & Platt by 7.1% during the 2nd quarter. California Public Employees Retirement System now owns 442,677 shares of the company’s stock valued at $19,761,000 after purchasing an additional 29,422 shares during the period. 78.52% of the stock is owned by institutional investors and hedge funds.

Leggett & Platt Company Profile

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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