Leggett & Platt, Incorporated (NYSE:LEG) Upgraded at Hilliard Lyons

Leggett & Platt, Incorporated (NYSE:LEG) was upgraded by research analysts at Hilliard Lyons from a “neutral” rating to a “long-term buy” rating in a note issued to investors on Monday, July 24th, MarketBeat Ratings reports. The firm presently has a $66.00 price objective on the stock. Hilliard Lyons’ target price suggests a potential upside of 40.52% from the stock’s current price.

LEG has been the topic of several other research reports. Zacks Investment Research lowered shares of Leggett & Platt, from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Gabelli began coverage on shares of Leggett & Platt, in a research note on Wednesday, June 21st. They set a “hold” rating and a $53.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Leggett & Platt, from $48.00 to $52.00 and gave the stock a “hold” rating in a research note on Monday, April 3rd. BidaskClub lowered shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $59.00 price objective on shares of Leggett & Platt, in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $56.88.

Leggett & Platt, (LEG) traded down 0.02% during trading on Monday, hitting $46.97. The company had a trading volume of 657,855 shares. The company’s 50 day moving average price is $51.18 and its 200-day moving average price is $50.86. The company has a market cap of $6.21 billion, a PE ratio of 18.64 and a beta of 0.98. Leggett & Platt, has a 12 month low of $44.02 and a 12 month high of $54.97.

Leggett & Platt, (NYSE:LEG) last released its quarterly earnings data 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. The business had revenue of $989.30 million for the quarter, compared to analyst estimates of $1 billion. Leggett & Platt, had a return on equity of 31.02% and a net margin of 9.17%. Leggett & Platt,’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. Equities analysts expect that Leggett & Platt, will post $2.60 earnings per share for the current year.

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In other Leggett & Platt, news, insider Matthew C. Flanigan sold 19,589 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $49.58, for a total value of $971,222.62. Following the completion of the transaction, the insider now owns 159,522 shares in the company, valued at approximately $7,909,100.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.78% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of LEG. Alps Advisors Inc. boosted its position in Leggett & Platt, by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,729 shares of the company’s stock valued at $511,000 after buying an additional 25 shares during the period. CIBC Asset Management Inc boosted its position in Leggett & Platt, by 0.3% in the second quarter. CIBC Asset Management Inc now owns 12,828 shares of the company’s stock valued at $674,000 after buying an additional 44 shares during the period. Ronna Sue Cohen boosted its position in Leggett & Platt, by 0.6% in the second quarter. Ronna Sue Cohen now owns 8,220 shares of the company’s stock valued at $432,000 after buying an additional 47 shares during the period. Chesley Taft & Associates LLC boosted its position in Leggett & Platt, by 0.3% in the first quarter. Chesley Taft & Associates LLC now owns 14,825 shares of the company’s stock valued at $746,000 after buying an additional 50 shares during the period. Finally, Trustmark National Bank Trust Department boosted its position in Leggett & Platt, by 0.9% in the first quarter. Trustmark National Bank Trust Department now owns 6,360 shares of the company’s stock valued at $320,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 72.10% of the company’s stock.

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.

Analyst Recommendations for Leggett & Platt, (NYSE:LEG)

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