Leggett & Platt (LEG) Stock Rating Upgraded by Gabelli

Gabelli upgraded shares of Leggett & Platt (NYSE:LEG) from a hold rating to a buy rating in a report issued on Wednesday morning, Marketbeat Ratings reports.

A number of other research analysts have also issued reports on the company. SunTrust Banks restated a buy rating and set a $53.00 price objective on shares of Leggett & Platt in a research report on Friday, October 27th. Piper Jaffray Companies set a $49.00 price objective on Leggett & Platt and gave the company a buy rating in a research report on Wednesday, October 11th. Finally, Zacks Investment Research upgraded Leggett & Platt from a sell rating to a hold rating in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $54.57.

Shares of Leggett & Platt (LEG) opened at $45.78 on Wednesday. Leggett & Platt has a twelve month low of $42.00 and a twelve month high of $54.97. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.84 and a quick ratio of 1.11. The firm has a market capitalization of $6,012.00, a P/E ratio of 21.49, a PEG ratio of 1.71 and a beta of 0.92.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.02). Leggett & Platt had a net margin of 7.42% and a return on equity of 29.44%. The firm had revenue of $984.00 million during the quarter, compared to the consensus estimate of $998.32 million. During the same quarter last year, the firm posted $0.53 earnings per share. Leggett & Platt’s revenue was up 8.9% compared to the same quarter last year. sell-side analysts predict that Leggett & Platt will post 2.77 earnings per share for the current fiscal year.

In related news, SVP Scott S. Douglas sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $46.45, for a total transaction of $139,350.00. Following the completion of the transaction, the senior vice president now owns 35,289 shares in the company, valued at approximately $1,639,174.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.78% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in LEG. Ameriprise Financial Inc. boosted its position in Leggett & Platt by 51.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 139,883 shares of the company’s stock worth $7,350,000 after acquiring an additional 47,247 shares during the period. Profund Advisors LLC acquired a new position in Leggett & Platt during the 2nd quarter worth $217,000. Thrivent Financial For Lutherans boosted its position in Leggett & Platt by 1.8% during the 2nd quarter. Thrivent Financial For Lutherans now owns 5,150 shares of the company’s stock worth $271,000 after acquiring an additional 90 shares during the period. Virtu KCG Holdings LLC acquired a new position in Leggett & Platt during the 2nd quarter worth $378,000. Finally, Dimensional Fund Advisors LP boosted its position in Leggett & Platt by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 622,389 shares of the company’s stock worth $32,693,000 after acquiring an additional 35,249 shares during the period. Institutional investors and hedge funds own 68.22% of the company’s stock.

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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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