Legacy Housing (NASDAQ:LEGH) Upgraded to “Hold” at Zacks Research

Legacy Housing (NASDAQ:LEGH) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on LEGH. B. Riley decreased their price target on shares of Legacy Housing from $26.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. CJS Securities lowered Legacy Housing from a “market outperform” rating to a “market perform” rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Legacy Housing in a report on Monday, December 22nd. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.00.

Legacy Housing Price Performance

LEGH stock opened at $21.63 on Monday. The company’s 50 day simple moving average is $20.19 and its 200-day simple moving average is $23.25. Legacy Housing has a 12 month low of $18.83 and a 12 month high of $29.45. The firm has a market capitalization of $516.31 million, a PE ratio of 11.09 and a beta of 0.81.

Legacy Housing (NASDAQ:LEGH) last issued its quarterly earnings data on Friday, November 7th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.22). The company had revenue of $40.48 million for the quarter, compared to analyst estimates of $45.53 million. Legacy Housing had a return on equity of 9.47% and a net margin of 26.66%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in Legacy Housing by 21.9% during the first quarter. Royal Bank of Canada now owns 105,440 shares of the company’s stock worth $2,659,000 after acquiring an additional 18,920 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Legacy Housing by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 54,434 shares of the company’s stock worth $1,373,000 after purchasing an additional 2,214 shares in the last quarter. Jane Street Group LLC purchased a new position in Legacy Housing in the first quarter valued at approximately $570,000. Strs Ohio acquired a new position in Legacy Housing during the first quarter valued at approximately $124,000. Finally, Bfsg LLC grew its stake in Legacy Housing by 1.0% during the second quarter. Bfsg LLC now owns 89,957 shares of the company’s stock worth $2,038,000 after buying an additional 925 shares during the period. Institutional investors and hedge funds 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.