In a report released today, Bobby Griffin from Raymond James reiterated a Buy rating on Leggett & Platt (LEG), with a price target of $48.00. The company’s shares closed last Thursday at $42.60.
According to TipRanks.com, Griffin is a 5-star analyst with an average return of 41.2% and a 68.0% success rate. Griffin covers the Consumer Goods sector, focusing on stocks such as Alimentation Couche Tard, Bed Bath & Beyond, and Casey’s General.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Leggett & Platt with a $50.00 average price target.
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Based on Leggett & Platt’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.21 billion and net profit of $105 million. In comparison, last year the company earned revenue of $1.24 billion and had a net profit of $99.6 million.
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Leggett & Platt, Inc. engages in the manufacture and distribution of furniture and engineered components; and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding, Flooring & Textile, and Specialized Products. The Bedding Products segment supplies of products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire. The Flooring & Textile Products segment is a producer of an extensive line of components and engineered systems for office, residential, and contract furniture manufacturers. The Specialized Products segment supplies titanium, nickel, and stainless steel tubing for the aerospace industry, and serve the construction market with hydraulic cylinders group. The company was founded J. P. Productsand C. B. Platt in 1883 and is headquartered in Carthage, MO.
