Leggett & Platt, Incorporated (NYSE:LEG) was downgraded by research analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research note issued to investors on Monday. They presently have a $46.00 target price on the stock. Piper Jaffray Companies’ price target indicates a potential downside of 2.67% from the company’s current price.

LEG has been the topic of a number of other research reports. Zacks Investment Research cut shares of Leggett & Platt, from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Stifel Nicolaus reiterated a “hold” rating on shares of Leggett & Platt, in a report on Thursday, September 7th. Hilliard Lyons upgraded shares of Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price target on the stock in a report on Monday, July 24th. BidaskClub downgraded shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, SunTrust Banks, Inc. upgraded shares of Leggett & Platt, from a “hold” rating to a “buy” rating and lifted their price target for the company from $50.00 to $53.00 in a report on Friday, September 22nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $54.38.

Leggett & Platt, (NYSE:LEG) opened at 47.26 on Monday. The company has a market cap of $6.25 billion, a PE ratio of 18.75 and a beta of 0.99. The company has a 50-day moving average price of $47.53 and a 200-day moving average price of $49.90. Leggett & Platt, has a 1-year low of $43.17 and a 1-year high of $54.97.

Leggett & Platt, (NYSE:LEG) last released its earnings results on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Leggett & Platt, had a net margin of 8.75% and a return on equity of 29.60%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company earned $0.67 EPS. Leggett & Platt,’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts expect that Leggett & Platt, will post $2.46 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in LEG. Lord Abbett & CO. LLC bought a new stake in Leggett & Platt, in the 2nd quarter valued at $22,404,000. Janus Henderson Group PLC increased its holdings in shares of Leggett & Platt, by 1,257.3% in the 2nd quarter. Janus Henderson Group PLC now owns 195,679 shares of the company’s stock worth $10,279,000 after buying an additional 181,262 shares during the last quarter. Balyasny Asset Management LLC increased its holdings in shares of Leggett & Platt, by 575.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 148,021 shares of the company’s stock worth $7,776,000 after buying an additional 126,119 shares during the last quarter. United Asset Strategies Inc. bought a new stake in shares of Leggett & Platt, in the 2nd quarter worth about $4,699,000. Finally, Ardevora Asset Management LLP increased its holdings in shares of Leggett & Platt, by 13.1% in the 2nd quarter. Ardevora Asset Management LLP now owns 667,300 shares of the company’s stock worth $35,053,000 after buying an additional 77,100 shares during the last quarter. Institutional investors own 68.72% 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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