Shares of Leggett & Platt, Inc. (NYSE:LEG) have received an average rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $45.60.
Several analysts recently commented on LEG shares. Zacks Investment Research upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a report on Friday, September 14th. ValuEngine upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. SunTrust Banks reduced their target price on Leggett & Platt to $40.00 and set an “outperform” rating on the stock in a report on Tuesday, October 30th. Raymond James cut Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $44.00 target price on the stock. in a report on Monday, October 29th. Finally, TheStreet cut Leggett & Platt from a “b-” rating to a “c+” rating in a report on Friday, October 26th.
Hedge funds have recently made changes to their positions in the stock. Girard Partners LTD. bought a new stake in Leggett & Platt in the third quarter valued at approximately $100,000. FNY Investment Advisers LLC acquired a new position in Leggett & Platt in the third quarter valued at approximately $132,000. Moneta Group Investment Advisors LLC lifted its stake in Leggett & Platt by 159.2% in the second quarter. Moneta Group Investment Advisors LLC now owns 3,175 shares of the company’s stock valued at $142,000 after buying an additional 1,950 shares during the period. TLP Group LLC acquired a new position in Leggett & Platt in the third quarter valued at approximately $145,000. Finally, Signition LP acquired a new position in Leggett & Platt in the second quarter valued at approximately $213,000. Institutional investors and hedge funds own 76.49% of the company’s stock.
Shares of NYSE:LEG traded up $0.10 during midday trading on Monday, hitting $38.12. 17,094 shares of the stock were exchanged, compared to its average volume of 1,447,449. The stock has a market cap of $4.96 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 1.62 and a beta of 1.05. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 1.16. Leggett & Platt has a 12 month low of $34.07 and a 12 month high of $49.88.
Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Thursday, October 25th. The company reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.05). The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. Leggett & Platt had a return on equity of 28.37% and a net margin of 6.87%. As a group, equities analysts forecast that Leggett & Platt will post 2.44 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 14th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.99%. The ex-dividend date is Thursday, December 13th. Leggett & Platt’s payout ratio is presently 61.79%.
About Leggett & Platt
Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.
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