Legacy Housing (NASDAQ:LEGH) Price Target Cut to $21.00 by Analysts at B. Riley

Legacy Housing (NASDAQ:LEGH) had its price target lowered by analysts at B. Riley from $26.00 to $21.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. B. Riley’s target price would indicate a potential upside of 4.90% from the company’s previous close.

LEGH has been the subject of a number of other reports. CJS Securities cut shares of Legacy Housing from a “market outperform” rating to a “market perform” rating in a research report on Tuesday. Weiss Ratings cut Legacy Housing from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Legacy Housing has an average rating of “Hold” and a consensus price target of $21.00.

Legacy Housing Stock Performance

Shares of LEGH traded down $0.31 during trading hours on Wednesday, hitting $20.02. The stock had a trading volume of 36,060 shares, compared to its average volume of 84,037. Legacy Housing has a 12-month low of $19.69 and a 12-month high of $29.45. The firm has a market cap of $477.88 million, a P/E ratio of 10.27 and a beta of 0.80. The company’s fifty day simple moving average is $24.91 and its 200 day simple moving average is $24.21.

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

Institutional Trading of Legacy Housing

Hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new stake in Legacy Housing during the third quarter valued at $34,000. Tower Research Capital LLC TRC raised its holdings in Legacy Housing by 414.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,408 shares of the company’s stock worth $55,000 after acquiring an additional 1,940 shares during the period. AlphaQuest LLC lifted its position in shares of Legacy Housing by 3,972.9% during the 3rd quarter. AlphaQuest LLC now owns 3,910 shares of the company’s stock worth $108,000 after purchasing an additional 3,814 shares during the last quarter. Quantbot Technologies LP bought a new position in Legacy Housing in the 1st quarter worth approximately $116,000. Finally, Strs Ohio acquired a new stake in shares of Legacy Housing in the first quarter worth $124,000. 89.35% of the stock is owned by hedge funds and other institutional investors.

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.