Leggett & Platt (LEG) is Downgraded by Raymond James to Mkt Perform

Leggett & Platt (LEG) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on Aug 1, 2016.

Many Wall Street Analysts have commented on Leggett & Platt. Leggett & Platt was Downgraded by Hilliard Lyons to ” Underperform” on Jul 29, 2016.

On the company’s financial health, Leggett & Platt reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.63. The company had revenue of $958.30 million for the quarter, compared to analysts expectations of $1003.58 million. The company’s revenue was down -3.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.

Leggett & Platt closed down -1.96 points or -3.59% at $52.57 with 23,67,208 shares getting traded on Friday. Post opening the session at $53.53, the shares hit an intraday low of $52.17 and an intraday high of $53.89 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 20, 2016, Karl G Glassman (President & CEO) sold 22,580 shares at $50.07 per share price. According to the SEC, on Jun 6, 2016, Matthew C Flanigan (Executive Vice President – CFO) sold 20,000 shares at $51.01 per share price. On May 27, 2016, Dennis S Park (Senior Vice President) sold 2,000 shares at $49.51 per share price, according to the Form-4 filing with the securities and exchange commission.

Leggett & Platt Incorporated is a manufacturer that conceives designs and produces a range of engineered components and products found in homes offices automobiles and commercial aircraft. The Company operates in four segments: Residential Furnishings segment which manufactures steel coiled bedsprings; Commercial Fixturing & Components segment which include work furniture group that designs manufactures and distributes a range of engineered components and products primarily for the office seating market; Industrial Materials segment consists of wire group which operates a steel rod mill and tubing group which supplies welded steel tubing and Specialized Products segment designs manufactures and sells products including automotive seating components specialized machinery and equipment and service van interiors. Its brands include Semi-Flex ComfortCore Mira-Coil Lura-Flex Superlastic Super Sagless Tack & Jump Schukra Gribetz Masterack and Hanes among others.

Leggett & Platt

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