Leggett & Platt, Incorporated (NYSE:LEG) was upgraded by investment analysts at SunTrust Banks, Inc. from a “hold” rating to a “buy” rating in a research note issued on Friday, The Fly reports. The analysts noted that the move was a valuation call.

A number of other equities analysts have also recently weighed in on LEG. Piper Jaffray Companies initiated coverage on Leggett & Platt, in a report on Monday, June 5th. They issued an “overweight” rating and a $59.00 price target for the company. BidaskClub cut Leggett & Platt, from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Gabelli assumed coverage on Leggett & Platt, in a research report on Wednesday, June 21st. They issued a “hold” rating and a $53.00 target price on the stock. Credit Suisse Group assumed coverage on Leggett & Platt, in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $56.00 target price on the stock. Finally, Zacks Investment Research lowered Leggett & Platt, from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Leggett & Platt, has an average rating of “Hold” and an average price target of $55.63.

Shares of Leggett & Platt, (NYSE:LEG) opened at 45.94 on Friday. The company has a 50-day moving average of $46.36 and a 200 day moving average of $50.37. Leggett & Platt, has a one year low of $43.17 and a one year high of $54.97. The firm has a market cap of $6.08 billion, a PE ratio of 18.23 and a beta of 1.00.

Leggett & Platt, (NYSE:LEG) last released its quarterly 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 company had revenue of $989.30 million during the quarter, compared to analysts’ expectations of $1 billion. Leggett & Platt, had a return on equity of 31.02% and a net margin of 9.17%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 EPS. On average, equities research analysts expect that Leggett & Platt, will post $2.43 EPS for the current fiscal year.

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In related news, insider Matthew C. Flanigan sold 19,589 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was 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 approximately $7,909,100.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.78% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Gotham Asset Management LLC grew its stake in Leggett & Platt, by 270.6% during the 1st quarter. Gotham Asset Management LLC now owns 157,645 shares of the company’s stock worth $7,933,000 after buying an additional 115,102 shares during the last quarter. State of Wisconsin Investment Board grew its stake in Leggett & Platt, by 33.1% during the 2nd quarter. State of Wisconsin Investment Board now owns 121,673 shares of the company’s stock worth $6,391,000 after buying an additional 30,250 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Leggett & Platt, by 21.2% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 35,798 shares of the company’s stock worth $1,880,000 after buying an additional 6,271 shares during the last quarter. Ronna Sue Cohen grew its stake in Leggett & Platt, by 0.6% during the 2nd 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. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in Leggett & Platt, by 13.1% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 285,588 shares of the company’s stock worth $15,002,000 after buying an additional 33,106 shares during the last quarter. Hedge funds and other institutional investors own 68.86% 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.

The Fly

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

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