Leggett & Platt, Incorporated (NYSE:LEG) has been assigned a $49.00 price target by Piper Jaffray Companies in a research note issued on Wednesday. The firm presently has a “buy” rating on the stock. Piper Jaffray Companies’ price target indicates a potential upside of 2.32% from the company’s current price.

A number of other analysts have also recently commented on the company. Zacks Investment Research cut Leggett & Platt, from a “hold” rating to a “sell” rating in a research report on Tuesday. SunTrust Banks, Inc. upgraded Leggett & Platt, from a “hold” rating to a “buy” rating and upped their price objective for the company from $50.00 to $53.00 in a research report on Friday, September 22nd. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “hold” rating on shares of Leggett & Platt, in a research report on Thursday, September 7th. BidaskClub cut Leggett & Platt, from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Finally, Hilliard Lyons upgraded Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price objective for the company in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Leggett & Platt, presently has a consensus rating of “Hold” and a consensus price target of $54.75.

Shares of Leggett & Platt, (LEG) traded down 0.93% during midday trading on Wednesday, hitting $47.89. The stock had a trading volume of 1,419,436 shares. The stock has a market cap of $6.34 billion, a PE ratio of 19.00 and a beta of 0.99. The stock’s 50-day moving average is $46.59 and its 200-day moving average is $50.14. Leggett & Platt, has a 12 month low of $43.17 and a 12 month high of $54.97.

Leggett & Platt, (NYSE:LEG) last posted 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 firm had revenue of $989.30 million for the quarter, compared to analysts’ expectations of $1 billion. Leggett & Platt, had a net margin of 9.17% and a return on equity of 31.02%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 EPS. Equities analysts anticipate that Leggett & Platt, will post $2.43 EPS for the current year.

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In other news, insider Matthew C. Flanigan sold 19,589 shares of the firm’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 value of $971,222.62. Following the completion of 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.78% of the company’s stock.

Several large investors have recently bought and sold shares of LEG. Van ECK Associates Corp lifted its stake in shares of Leggett & Platt, by 7.4% in the 1st quarter. Van ECK Associates Corp now owns 2,122 shares of the company’s stock valued at $107,000 after purchasing an additional 147 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Leggett & Platt, in the 1st quarter valued at approximately $126,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Leggett & Platt, by 6.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,407 shares of the company’s stock valued at $127,000 after purchasing an additional 153 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in shares of Leggett & Platt, by 123.8% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,686 shares of the company’s stock valued at $135,000 after purchasing an additional 1,486 shares during the last quarter. Finally, Exane Derivatives lifted its stake in shares of Leggett & Platt, by 132,500.0% in the 2nd quarter. Exane Derivatives now owns 2,652 shares of the company’s stock valued at $139,000 after purchasing an additional 2,650 shares during the last quarter. 68.86% 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.

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

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