Leggett & Platt, Incorporated (NYSE:LEG)‘s stock had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies in a research note issued on Friday. They presently have a $49.00 price objective on the stock. Piper Jaffray Companies’ price target would indicate a potential upside of 8.17% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. BidaskClub raised shares of Leggett & Platt, from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Stifel Nicolaus reissued a “hold” rating on shares of Leggett & Platt, in a research note on Thursday. Zacks Investment Research cut shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. Gabelli started coverage on shares of Leggett & Platt, in a research note on Wednesday, June 21st. They issued a “hold” rating and a $53.00 target price on the stock. Finally, Hilliard Lyons raised shares of Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 target price on the stock in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $55.63.

Shares of Leggett & Platt, (NYSE:LEG) traded up 4.14% during trading on Friday, reaching $45.30. The company’s stock had a trading volume of 1,521,099 shares. The company’s 50-day moving average price is $47.56 and its 200 day moving average price is $50.55. Leggett & Platt, has a 1-year low of $43.17 and a 1-year high of $54.97. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 17.98 and a beta of 1.00.

Leggett & Platt, (NYSE:LEG) last posted its earnings results on Thursday, July 27th. The company reported $0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.01. The business had revenue of $989.30 million during the quarter, compared to the consensus estimate of $1 billion. Leggett & Platt, had a net margin of 9.17% and a return on equity of 31.02%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS. Analysts anticipate that Leggett & Platt, will post $2.49 EPS for the current year.

TRADEMARK VIOLATION WARNING: This report was posted by American Banking News and is the property of of American Banking News. If you are reading this report on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/09/09/piper-jaffray-companies-reaffirms-buy-rating-for-leggett-platt-incorporated-leg.html.

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 transaction of $971,222.62. Following the sale, the insider now directly owns 159,522 shares of the company’s stock, valued at $7,909,100.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.78% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Alps Advisors Inc. grew its stake in Leggett & Platt, by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,729 shares of the company’s stock worth $511,000 after buying an additional 25 shares during the last quarter. CIBC Asset Management Inc grew its stake in Leggett & Platt, by 0.3% during the second quarter. CIBC Asset Management Inc now owns 12,828 shares of the company’s stock worth $674,000 after buying an additional 44 shares during the last quarter. Ronna Sue Cohen grew its stake in Leggett & Platt, by 0.6% during the second quarter. Ronna Sue Cohen now owns 8,220 shares of the company’s stock worth $432,000 after buying an additional 47 shares during the last quarter. Gofen & Glossberg LLC IL grew its stake in Leggett & Platt, by 1.0% during the second quarter. Gofen & Glossberg LLC IL now owns 5,250 shares of the company’s stock worth $276,000 after buying an additional 50 shares during the last quarter. Finally, Trustmark National Bank Trust Department grew its stake in Leggett & Platt, by 0.9% during the first quarter. Trustmark National Bank Trust Department now owns 6,360 shares of the company’s stock worth $320,000 after buying an additional 59 shares during the last quarter. 68.98% of the stock is currently owned by hedge funds and other 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.

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

Receive News & Ratings for Leggett & Platt Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.