Legacy Housing (NASDAQ:LEGH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Legacy Housing (NASDAQ:LEGH) from a buy rating to a strong-buy rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other research analysts also recently commented on LEGH. Weiss Ratings raised Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. B. Riley Financial reiterated a “neutral” rating on shares of Legacy Housing in a research note on Thursday, May 14th. Finally, Zacks Research lowered shares of Legacy Housing from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.00.

Legacy Housing Trading Down 0.7%

NASDAQ LEGH opened at $28.13 on Friday. The company has a market cap of $668.93 million, a price-to-earnings ratio of 12.96 and a beta of 0.78. The company has a 50 day moving average of $27.14 and a 200-day moving average of $23.72. Legacy Housing has a 1-year low of $18.28 and a 1-year high of $31.34.

Legacy Housing (NASDAQ:LEGH) last released its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.27. The firm had revenue of $66.35 million during the quarter, compared to the consensus estimate of $64.08 million. Legacy Housing had a return on equity of 9.53% and a net margin of 28.56%. On average, equities research 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 modified their holdings of the business. Quarry LP acquired a new stake in Legacy Housing in the third quarter valued at about $26,000. Tower Research Capital LLC TRC raised its stake in Legacy Housing by 414.5% during the second 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 in the last quarter. Strs Ohio acquired a new position in Legacy Housing during the first quarter worth about $124,000. Aquatic Capital Management LLC lifted 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 acquiring an additional 4,657 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Legacy Housing in the second quarter worth about $149,000. 89.35% of the stock is currently owned by institutional investors.

About Legacy Housing

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.