Leggett & Platt, Incorporated (NYSE:LEG)‘s stock had its “hold” rating reaffirmed by investment analysts at Stifel Nicolaus in a report released on Thursday, September 7th.
LEG has been the topic of several other reports. Piper Jaffray Companies started coverage on Leggett & Platt, in a report on Monday, June 5th. They set an “overweight” rating and a $59.00 price objective on the stock. Credit Suisse Group started coverage on Leggett & Platt, in a report on Thursday, June 22nd. They set a “neutral” rating and a $56.00 price objective on the stock. Zacks Investment Research downgraded Leggett & Platt, from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BidaskClub upgraded Leggett & Platt, from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Finally, Gabelli started coverage on Leggett & Platt, in a research report on Wednesday, June 21st. They set a “hold” rating and a $53.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $55.63.
Shares of Leggett & Platt, (NYSE:LEG) traded up 0.75% during midday trading on Thursday, hitting $45.85. 1,602,885 shares of the stock were exchanged. The stock’s 50-day moving average price is $46.55 and its 200-day moving average price is $50.42. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 18.19 and a beta of 1.00. Leggett & Platt, has a 1-year low of $43.17 and a 1-year high of $54.97.
Leggett & Platt, (NYSE:LEG) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). Leggett & Platt, had a return on equity of 31.02% and a net margin of 9.17%. The business had revenue of $989.30 million during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, analysts forecast that Leggett & Platt, will post $2.45 EPS for the current year.
In other news, insider Matthew C. Flanigan sold 19,589 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $49.58, for a total value of $971,222.62. Following the completion of the sale, the insider now owns 159,522 shares of the company’s stock, valued at approximately $7,909,100.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.78% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp lifted its position in Leggett & Platt, by 7.4% during the 1st quarter. Van ECK Associates Corp now owns 2,122 shares of the company’s stock worth $107,000 after acquiring an additional 147 shares during the period. TrimTabs Asset Management LLC lifted its position in Leggett & Platt, by 89.0% during the 1st quarter. TrimTabs Asset Management LLC now owns 2,328 shares of the company’s stock worth $117,000 after acquiring an additional 1,096 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Leggett & Platt, by 6.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,407 shares of the company’s stock worth $127,000 after acquiring an additional 153 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Leggett & Platt, during the 1st quarter worth about $126,000. Finally, Exane Derivatives lifted its position in Leggett & Platt, by 132,500.0% during the 2nd quarter. Exane Derivatives now owns 2,652 shares of the company’s stock worth $139,000 after acquiring an additional 2,650 shares during the period. 69.00% of the stock is owned by institutional investors.
Leggett & Platt, Company Profile
Leggett & Platt, Incorporated is a manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices and automobiles. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products.
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