Legacy Housing (NASDAQ:LEGH) Upgraded 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 assumed coverage on shares of Legacy Housing in a research note on Friday, May 16th. They issued a “neutral” rating and a $26.00 price objective on the stock.

Legacy Housing Stock Up 2.0%

LEGH stock opened at $23.91 on Monday. Legacy Housing has a twelve month low of $21.58 and a twelve month high of $29.31. The company has a market cap of $576.71 million, a PE ratio of 10.44 and a beta of 0.83. The business’s 50-day simple moving average is $23.13 and its 200 day simple moving average is $24.38.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Bard Associates Inc. grew its stake in Legacy Housing by 1.1% during the fourth quarter. Bard Associates Inc. now owns 199,548 shares of the company’s stock worth $4,925,000 after buying an additional 2,134 shares in the last quarter. Boston Partners boosted its holdings in shares of Legacy Housing by 37.9% during the 4th quarter. Boston Partners now owns 18,049 shares of the company’s stock valued at $445,000 after acquiring an additional 4,964 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Legacy Housing in the fourth quarter valued at about $49,000. Vanguard Group Inc. raised its position in Legacy Housing by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 623,287 shares of the company’s stock valued at $15,383,000 after purchasing an additional 80,982 shares during the last quarter. Finally, Brandywine Global Investment Management LLC boosted its stake in shares of Legacy Housing by 56.1% during the fourth quarter. Brandywine Global Investment Management LLC now owns 81,970 shares of the company’s stock valued at $2,023,000 after purchasing an additional 29,460 shares in the last quarter. 89.35% of the stock is owned by 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.