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Leggett & Platt (NYSE: LEG) ValuEngine's stock market badysts lowered the "hold" rating to a "sell" rating in a research report released on Tuesday, October 2nd.
In addition, Zacks Investment Research has upgraded Leggett & Platt's shares from a "sale" rating to a "holding" in a research report on Monday, October 1st. An investment badyst badigned a security rating, three badigned a retention rating and three badigned a security purchase rating. The title currently has an average rating of "Keep" and an average price target of $ 48.20.
Shares of the LEG stock opened at $ 38.28 on Tuesday. Leggett & Platt has a minimum of 52 weeks of $ 38.11 and a maximum of 52 weeks of $ 51.99. The company has a market capitalization of $ 5.11 billion, a PE ratio of 15.56, a price / earnings growth ratio of 1.40 and a beta of 0.83. The company has a fast ratio of 1.23, a current ratio of 1.90 and a debt-to-equity ratio of 1.15.
Leggett & Platt (NYSE: LEG) last announced its quarterly results on Thursday, July 26. The company announced earnings per share (EPS) of $ 0.63 for the quarter, exceeding badysts' consensus consensus of $ 0.61 on $ 0.02. Leggett & Platt had a net margin of 6.83% and a return on equity of 27.73%. The company generated $ 1.10 billion in sales during the quarter, while badysts expected $ 1.09 billion. In the same quarter last year, the company recorded EPS of $ 0.64. The company's revenues increased 11.4% year-on-year. As a group, stock research badysts expect Leggett & Platt to post earnings per share of 2.62 for the current fiscal year.
In addition, insider Matthew C. Flanigan sold 15,672 shares of the company as part of a transaction on Thursday, August 23. The shares were sold at an average price of $ 46.00, for a total value of $ 720,912.00. As a result of the transaction, the insider now owns 116,341 shares of the Company, valued at approximately $ 5,351,686. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC's website. Insider Matthew C. Flanigan also sold 29,248 shares of the company in a transaction on Monday, July 30. The shares were sold at an average price of $ 44.09, for a total transaction of $ 1,289,544.32. As a result of the transaction, the insider now directly owns 115,039 shares of the Company, valued at approximately $ 5,072,069.51. The disclosure of this sale can be found here. The insiders of the company hold 1.52% of the shares of the company.
Several hedge funds and other institutional investors have recently changed their holdings in LEG. The Public Employees Retirement Fund of Oregon purchased a new position in Leggett & Platt during the second quarter, valued at approximately $ 1,339,000. Royal London Asset Management Ltd. purchased a new position in Leggett & Platt during the second quarter valued at approximately $ 2,274,000. BerganKDV Wealth Management LLC increased its stake in Leggett & Platt by 11.0% in the second quarter. BerganKDV Wealth Management LLC now holds 19,322 shares valued at $ 863,000 after acquiring an additional 1,908 shares in the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in Leggett & Platt during the second quarter valued at approximately $ 120,882,000. Lastly, Moneta Group Investment Advisors LLC increased its stake in Leggett & Platt by 159.2% in the second quarter. Moneta Group Investment Advisors LLC now holds 3,175 shares of the company, worth $ 142,000, following the acquisition of 1,950 additional shares in the last quarter. 77.71% of the capital currently belongs to institutional investors.
About Leggett & Platt
Leggett & Platt, Incorporated designs and manufactures various components and technical products around the world. It operates in four sectors: residential products, furniture products, industrial products and specialty products. The Residential Products Sector offers springs, wireforms and wire-forming machines in different types of springs; industrial sewing and finishing machines, conveyor lines, mattress packaging, glue drying equipment, as well as quilting machines; and structural fabrics, carpet cushions and geographical components.
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