Legacy Housing (NASDAQ:LEGH) Rating Lowered to Buy at Wall Street Zen

Legacy Housing (NASDAQ:LEGH) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday.

Several other equities research analysts also recently weighed in on LEGH. Zacks Research downgraded Legacy Housing from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings raised Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Finally, B. Riley Financial restated a “neutral” rating on shares of Legacy Housing in a research note on Thursday, May 14th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $21.00.

Legacy Housing Price Performance

LEGH stock opened at $29.10 on Friday. The firm’s fifty day simple moving average is $26.41 and its 200-day simple moving average is $23.19. The company has a market capitalization of $692.06 million, a P/E ratio of 13.41 and a beta of 0.78. Legacy Housing has a 12 month low of $18.28 and a 12 month high of $31.34.

Legacy Housing (NASDAQ:LEGH) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.27. Legacy Housing had a net margin of 28.56% and a return on equity of 9.53%. The firm had revenue of $66.35 million for the quarter, compared to analyst estimates of $64.08 million. As a group, sell-side analysts forecast that Legacy Housing will post 2.32 earnings per share for the current year.

Institutional Trading of Legacy Housing

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of Legacy Housing during the 3rd quarter worth approximately $26,000. Tower Research Capital LLC TRC lifted 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 buying an additional 1,940 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Legacy Housing by 179.6% in the 4th quarter. State of Alaska Department of Revenue now owns 3,470 shares of the company’s stock valued at $67,000 after acquiring an additional 2,229 shares during the period. Strs Ohio acquired a new stake in Legacy Housing in the 1st quarter valued at $124,000. Finally, Aquatic Capital Management LLC increased its holdings in Legacy Housing by 2,156.0% in the 3rd quarter. Aquatic Capital Management LLC now owns 4,873 shares of the company’s stock worth $134,000 after acquiring an additional 4,657 shares in the last quarter. 89.35% of the stock is currently owned by hedge funds and other institutional investors.

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.