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Shares of Leggett & Platt Rise Above Previous 52-Week High

By James Quinn

Leggett & Platt (NYSE:LEG) traded today at a new 52-week high of $52.33. This new high was reached on below average trading volume as 56,000 shares traded hands, while the average 30-day volume is approximately 913,000 shares.

Leggett & Platt (NYSE:LEG) is currently priced 10.0% above its average consensus analyst price target of $47.00. Leggett & Platt shares have support at the 50-day moving average (MA) of $47.66 and additional support at the 200-day MA of $44.91.

In the past 52 weeks, shares of Leggett & Platt have traded between a low of $36.64 and a high of $52.33 and are now at $52.20, which is 42% above that low price. The 200-day and 50-day moving averages have moved 0.05% lower and 0.86% higher over the past week, respectively.

Leggett & Platt, Incorporated manufactures a wide range of engineered products. The Company's products include components for bedding, furniture, and other residential furnishings, as well as office and institutional furnishings components, retail store fixtures, and displays, specialty wire products, and automotive seating suspension and lumbar systems.

SmarTrend recommended that subscribers consider buying shares of Leggett & Platt on February 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $41.38. Since that recommendation, shares of Leggett & Platt have risen 25.7%. We continue to monitor LEG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows leggett & platt

Ticker(s): LEG