Leggett & Platt, Incorporated (NYSE:LEG) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

Other equities research analysts also recently issued research reports about the company. Hilliard Lyons upgraded Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price objective on the stock in a report on Monday, July 24th. Gabelli began coverage on Leggett & Platt, in a report on Wednesday, June 21st. They issued a “hold” rating and a $53.00 price objective on the stock. Zacks Investment Research downgraded Leggett & Platt, from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Piper Jaffray Companies reiterated a “buy” rating and issued a $59.00 price objective on shares of Leggett & Platt, in a report on Friday, July 14th. Finally, Credit Suisse Group began coverage on Leggett & Platt, in a report on Thursday, June 22nd. They issued a “neutral” rating and a $56.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. Leggett & Platt, currently has an average rating of “Hold” and a consensus target price of $56.88.

Shares of Leggett & Platt, (NYSE:LEG) opened at 48.23 on Friday. The firm has a 50-day moving average price of $52.34 and a 200-day moving average price of $50.92. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 19.14 and a beta of 0.98. Leggett & Platt, has a 1-year low of $44.02 and a 1-year high of $54.97.

Leggett & Platt, (NYSE:LEG) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $989.30 million during 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%. Leggett & Platt,’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS. Equities analysts forecast that Leggett & Platt, will post $2.60 EPS for the current year.

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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 stock was sold at an average price of $49.58, for a total transaction of $971,222.62. Following the sale, the insider now owns 159,522 shares in the company, valued at approximately $7,909,100.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.78% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the company. Thrivent Financial for Lutherans increased its stake in shares of Leggett & Platt, by 3,106.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,810 shares of the company’s stock valued at $235,000 after buying an additional 4,660 shares during the period. Teachers Advisors LLC increased its stake in shares of Leggett & Platt, by 6.3% in the fourth quarter. Teachers Advisors LLC now owns 338,172 shares of the company’s stock valued at $16,530,000 after buying an additional 19,947 shares during the period. Kentucky Retirement Systems bought a new stake in shares of Leggett & Platt, during the fourth quarter valued at $474,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Leggett & Platt, during the fourth quarter valued at $212,000. Finally, Macquarie Group Ltd. increased its stake in shares of Leggett & Platt, by 97.4% in the fourth quarter. Macquarie Group Ltd. now owns 7,500 shares of the company’s stock valued at $367,000 after buying an additional 3,700 shares during the period. Institutional investors own 72.10% of the company’s stock.

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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