Leggett & Platt,’s (LEG) “Hold” Rating Reiterated at Stifel Nicolaus
Leggett & Platt, Incorporated (NYSE:LEG)‘s stock had its “hold” rating reiterated by research analysts at Stifel Nicolaus in a research note issued to investors on Thursday.
A number of other equities analysts also recently commented on the stock. BidaskClub downgraded shares of Leggett & Platt, from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Piper Jaffray Companies set a $59.00 price objective on shares of Leggett & Platt, and gave the stock a “buy” rating in a report on Monday, August 14th. Zacks Investment Research downgraded shares of Leggett & Platt, from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Hilliard Lyons raised shares of Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price objective for the company in a report on Monday, July 24th. Finally, Credit Suisse Group assumed coverage on shares of Leggett & Platt, in a report on Thursday, June 22nd. They issued a “neutral” rating and a $56.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Leggett & Platt, presently has an average rating of “Hold” and a consensus price target of $56.88.
Shares of Leggett & Platt, (NYSE:LEG) traded down 6.53% during trading on Thursday, hitting $43.50. 2,602,214 shares of the stock were exchanged. The stock’s 50 day moving average price is $47.77 and its 200-day moving average price is $50.58. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 17.26 and a beta of 1.00. Leggett & Platt, has a one year low of $43.17 and a one year high of $54.97.
Leggett & Platt, (NYSE:LEG) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $989.30 million during 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%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. On average, analysts predict that Leggett & Platt, will post $2.56 EPS for the current year.
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In related 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 sale, the insider now owns 159,522 shares of the company’s stock, valued at $7,909,100.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.78% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Intl Fcstone Inc. acquired a new stake in Leggett & Platt, in the second quarter worth about $1,350,000. Lord Abbett & CO. LLC acquired a new stake in Leggett & Platt, in the second quarter worth about $22,404,000. Toronto Dominion Bank lifted its holdings in Leggett & Platt, by 24.2% in the second quarter. Toronto Dominion Bank now owns 44,837 shares of the company’s stock worth $2,354,000 after purchasing an additional 8,748 shares during the period. Archford Capital Strategies LLC lifted its holdings in Leggett & Platt, by 180.5% in the second quarter. Archford Capital Strategies LLC now owns 63,623 shares of the company’s stock worth $1,043,000 after purchasing an additional 40,944 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in Leggett & Platt, in the second quarter worth about $319,000. 68.98% of the stock is owned by institutional investors and hedge funds.
About Leggett & Platt,
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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