Legacy Housing (NASDAQ:LEGH) Upgraded to Strong-Buy 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 research report report published on Saturday.

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

Legacy Housing Stock Down 0.1%

NASDAQ:LEGH opened at $28.34 on Friday. The business’s 50-day simple moving average is $27.06 and its two-hundred day simple moving average is $23.65. The stock has a market cap of $673.93 million, a PE ratio of 13.06 and a beta of 0.78. Legacy Housing has a 52 week low of $18.28 and a 52 week high of $31.34.

Legacy Housing (NASDAQ:LEGH) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.72 by $0.27. The business had revenue of $66.35 million for 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%. Sell-side analysts anticipate that Legacy Housing will post 2.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Legacy Housing

Several institutional investors have recently made changes to their positions in the company. Quarry LP bought a new position in Legacy Housing during the 3rd quarter valued at about $26,000. Tower Research Capital LLC TRC lifted its stake in Legacy Housing by 414.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,408 shares of the company’s stock worth $55,000 after purchasing an additional 1,940 shares during the last quarter. Strs Ohio bought a new stake in Legacy Housing in the first quarter worth about $124,000. Aquatic Capital Management LLC lifted its stake in 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 purchasing an additional 4,657 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of Legacy Housing during the second quarter valued at approximately $149,000. Institutional investors own 89.35% of the company’s stock.

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.