Legacy Housing (NASDAQ:LEGH) Trading Up 1.5% – Still a Buy?

Legacy Housing Corporation (NASDAQ:LEGH) shot up 1.5% during trading on Friday . The stock traded as high as $26.53 and last traded at $26.49. Approximately 124,451 shares were traded during trading, an increase of 33% from the average daily volume of 93,789 shares. The stock had previously closed at $26.10.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. B. Riley Financial restated a “neutral” rating on shares of Legacy Housing in a research note on Thursday, May 14th. Finally, Zacks Research raised shares of Legacy Housing from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Legacy Housing currently has an average rating of “Moderate Buy” and an average price target of $21.00.

Legacy Housing Stock Performance

The business has a 50 day moving average of $25.01 and a 200-day moving average of $22.46. The company has a market capitalization of $629.93 million, a P/E ratio of 14.88 and a beta of 0.79.

Legacy Housing (NASDAQ:LEGH) last issued its earnings results on Thursday, May 7th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. The business had revenue of $34.37 million during the quarter, compared to the consensus estimate of $38.82 million. Legacy Housing had a return on equity of 8.08% and a net margin of 26.01%. As a group, equities analysts forecast that Legacy Housing Corporation will post 2.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Legacy Housing

Hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in Legacy Housing during the 3rd quarter worth approximately $26,000. Tower Research Capital LLC TRC grew its position in shares of Legacy Housing by 414.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,408 shares of the company’s stock valued at $55,000 after purchasing an additional 1,940 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Legacy Housing by 179.6% during the 4th quarter. State of Alaska Department of Revenue now owns 3,470 shares of the company’s stock valued at $67,000 after purchasing an additional 2,229 shares in the last quarter. Strs Ohio bought a new position in shares of Legacy Housing in the first quarter worth $124,000. Finally, Aquatic Capital Management LLC increased its holdings in shares of Legacy Housing by 2,156.0% in the third quarter. Aquatic Capital Management LLC now owns 4,873 shares of the company’s stock worth $134,000 after purchasing an additional 4,657 shares during the period. Hedge funds and other institutional investors own 89.35% of the company’s stock.

Legacy Housing Company Profile

Legacy Housing Corp. designs, builds and markets factory-built homes, focusing on both single-section and multi-section manufactured housing products. The company offers a range of floor plans and customization options, including energy-efficient features and accessible design elements. Its core business activities encompass in-house design, procurement of building materials, plant-based construction and nationwide distribution through an independent network of retail partners.

Founded in 2009 and headquartered in Dallas, Texas, Legacy Housing operates in key regions across the southeastern and southwestern United States.