Leggett & Platt Upgraded by Monness Crespi & Hardt to “Buy” (LEG)
Leggett & Platt (NYSE:LEG) was upgraded by equities researchers at Monness Crespi & Hardt from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, Analyst RN reports. The firm currently has a $35.00 price objective on the stock. Monness Crespi & Hardt’s price target indicates a potential upside of 15.06% from the company’s current price.
Shares of Leggett & Platt (NYSE:LEG) traded up 2.25% on Tuesday, hitting $30.42. The stock had a trading volume of 1,361,254 shares. Leggett & Platt has a 1-year low of $28.00 and a 1-year high of $34.28. The stock has a 50-day moving average of $30.10 and a 200-day moving average of $30.24. The company has a market cap of $4.296 billion and a price-to-earnings ratio of 16.57.
Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.01. The company had revenue of $957.70 million for the quarter, compared to the consensus estimate of $990.20 million. During the same quarter last year, the company posted $0.45 earnings per share. Leggett & Platt’s revenue was down 2.1% compared to the same quarter last year. Analysts expect that Leggett & Platt will post $1.50 EPS for the current fiscal year.
LEG has been the subject of a number of other recent research reports. Analysts at Ned Davis Research upgraded shares of Leggett & Platt from a “neutral” rating to a “buy” rating in a research note to investors on Monday, January 6th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Leggett & Platt in a research note to investors on Monday, November 11th. They now have a $31.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $32.67.
Leggett & Platt, Incorporated is an international manufacturer that conceives, designs and produces a range of engineered components and products found in many homes, offices, retail stores, automobiles and commercial aircraft.
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