Legacy Housing (NASDAQ:LEGH) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Legacy Housing (NASDAQ:LEGH) from a sell rating to a hold rating in a report released on Monday.

Separately, B. Riley started coverage on Legacy Housing in a research note on Friday, May 16th. They set a “neutral” rating and a $26.00 price target for the company.

Legacy Housing Price Performance

Shares of LEGH opened at $23.91 on Monday. The company has a market cap of $576.71 million, a PE ratio of 10.44 and a beta of 0.83. Legacy Housing has a one year low of $21.58 and a one year high of $29.31. The stock has a 50-day moving average of $23.13 and a 200-day moving average of $24.38.

Legacy Housing (NASDAQ:LEGH) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.16). The firm had revenue of $35.70 million for the quarter, compared to analysts’ expectations of $44.13 million. Legacy Housing had a return on equity of 11.71% and a net margin of 32.15%.

Hedge Funds Weigh In On Legacy Housing

Several institutional investors and hedge funds have recently made changes to their positions in the business. Advisory Research Inc. raised its stake in Legacy Housing by 34.0% in the fourth quarter. Advisory Research Inc. now owns 472,935 shares of the company’s stock worth $11,672,000 after buying an additional 120,000 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Legacy Housing by 93.7% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 247,770 shares of the company’s stock worth $6,249,000 after acquiring an additional 119,870 shares during the period. Boston Partners raised its position in Legacy Housing by 543.2% in the first quarter. Boston Partners now owns 116,089 shares of the company’s stock worth $2,928,000 after acquiring an additional 98,040 shares during the period. Robotti Robert grew its holdings in Legacy Housing by 72.8% during the first quarter. Robotti Robert now owns 221,304 shares of the company’s stock valued at $5,581,000 after purchasing an additional 93,234 shares during the period. Finally, Bfsg LLC purchased a new stake in shares of Legacy Housing in the first quarter worth $2,245,000. Institutional investors own 89.35% of the company’s stock.

Legacy Housing Company Profile

Legacy Housing Corporation engages in the building, sale, and financing of manufactured homes and tiny houses primarily in the southern United States. It manufactures and provides for the transport of mobile homes, including 1 to 5 bedrooms with 1 to 3 1/2 bathrooms; and provides wholesale financing to dealers and mobile home parks, as well as retail financing to consumers.