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

Wall Street Zen upgraded shares of Legacy Housing (NASDAQ:LEGH) from a hold rating to a strong-buy rating in a research note issued to investors on Saturday.

LEGH has been the topic of several other reports. B. Riley Financial restated a “neutral” rating on shares of Legacy Housing in a research note on Thursday, May 14th. Weiss Ratings upgraded shares of Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Finally, Zacks Research lowered shares of Legacy Housing from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $21.00.

Legacy Housing Stock Performance

LEGH stock opened at $28.42 on Friday. The company has a market capitalization of $675.83 million, a P/E ratio of 13.10 and a beta of 0.78. Legacy Housing has a 52-week low of $18.28 and a 52-week high of $31.34. The business has a 50-day simple moving average of $25.88 and a two-hundred day simple moving average of $22.93.

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

Institutional Investors Weigh In On Legacy Housing

A number of hedge funds have recently made changes to their positions in LEGH. BlackRock Inc. bought a new stake in Legacy Housing in the second quarter worth about $16,714,000. Rock Creek Group LP grew its position in shares of Legacy Housing by 620.6% during the 4th quarter. Rock Creek Group LP now owns 250,000 shares of the company’s stock valued at $4,880,000 after acquiring an additional 215,307 shares during the period. Yacktman Asset Management LP increased its stake in shares of Legacy Housing by 192.8% during the 4th quarter. Yacktman Asset Management LP now owns 175,675 shares of the company’s stock worth $3,429,000 after purchasing an additional 115,675 shares during the last quarter. Gabelli Funds LLC increased its stake in shares of Legacy Housing by 192.6% during the 4th quarter. Gabelli Funds LLC now owns 143,341 shares of the company’s stock worth $2,798,000 after purchasing an additional 94,344 shares during the last quarter. Finally, Advisory Research Inc. raised its holdings in shares of Legacy Housing by 11.0% in the 4th quarter. Advisory Research Inc. now owns 730,944 shares of the company’s stock worth $14,268,000 after purchasing an additional 72,573 shares during the period. 89.35% of the stock is currently owned by 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.