Leggett & Platt (NYSE:LEG) was upgraded by equities researchers at Gabelli from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Marketbeat Ratings reports.

A number of other research firms also recently issued reports on LEG. Piper Jaffray Companies downgraded shares of Leggett & Platt from an “overweight” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a report on Monday, October 30th. Zacks Investment Research downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $53.00 price objective on shares of Leggett & Platt in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $54.57.

Shares of Leggett & Platt (NYSE:LEG) opened at $43.99 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.84 and a debt-to-equity ratio of 0.92. Leggett & Platt has a fifty-two week low of $42.00 and a fifty-two week high of $54.97. The stock has a market cap of $6,038.38, a P/E ratio of 18.61, a PEG ratio of 1.71 and a beta of 0.92.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.59 earnings per share (EPS) 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 business had revenue of $984.00 million during the quarter, compared to analyst estimates of $998.32 million. During the same quarter last year, the business earned $0.53 earnings per share. Leggett & Platt’s revenue for the quarter was up 8.9% on a year-over-year basis. sell-side analysts predict that Leggett & Platt will post 2.77 EPS for the current fiscal year.

In related news, SVP Scott S. Douglas sold 3,000 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $46.45, for a total value of $139,350.00. Following the completion of the transaction, the senior vice president now directly owns 35,289 shares of the company’s stock, valued at $1,639,174.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Scott S. Douglas sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $47.01, for a total transaction of $470,100.00. Following the completion of the transaction, the senior vice president now directly owns 29,584 shares of the company’s stock, valued at $1,390,743.84. The disclosure for this sale can be found here. Insiders sold 13,250 shares of company stock worth $621,070 over the last quarter. 1.78% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Ronna Sue Cohen grew its stake in shares of Leggett & Platt by 12.7% in the third quarter. Ronna Sue Cohen now owns 9,268 shares of the company’s stock valued at $442,000 after buying an additional 1,048 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Leggett & Platt by 51.0% in the second quarter. Ameriprise Financial Inc. now owns 139,883 shares of the company’s stock valued at $7,350,000 after buying an additional 47,247 shares in the last quarter. Iberiabank Corp grew its stake in shares of Leggett & Platt by 8.1% in the third quarter. Iberiabank Corp now owns 41,978 shares of the company’s stock valued at $2,004,000 after buying an additional 3,140 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Leggett & Platt by 62.7% in the third quarter. Advisor Group Inc. now owns 36,971 shares of the company’s stock valued at $1,765,000 after buying an additional 14,254 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of Leggett & Platt by 7.8% in the third quarter. Great West Life Assurance Co. Can now owns 148,609 shares of the company’s stock valued at $7,085,000 after buying an additional 10,715 shares in the last quarter. 68.22% of the stock is owned by institutional investors and hedge funds.

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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)

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