Legacy Housing (NASDAQ:LEGH) Upgraded at Zacks Research

Legacy Housing (NASDAQ:LEGH) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other analysts have also issued research reports about the company. B. Riley Financial reaffirmed a “neutral” rating on shares of Legacy Housing in a research note on Thursday, May 14th. Weiss Ratings upgraded Legacy Housing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.00.

Legacy Housing Stock Down 0.6%

Shares of LEGH opened at $26.11 on Tuesday. The stock has a market cap of $620.90 million, a price-to-earnings ratio of 14.67 and a beta of 0.78. Legacy Housing has a 12 month low of $18.28 and a 12 month high of $29.45. The company has a 50-day moving average price of $23.50 and a two-hundred day moving average price of $21.73.

Legacy Housing (NASDAQ:LEGH) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. Legacy Housing had a return on equity of 8.08% and a net margin of 26.01%.The company had revenue of $34.37 million for the quarter, compared to the consensus estimate of $38.82 million. Equities research analysts expect that Legacy Housing will post 2.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Legacy Housing

Several institutional investors have recently bought and sold shares of LEGH. Quarry LP bought a new stake in shares of Legacy Housing during the third quarter worth $26,000. Tower Research Capital LLC TRC lifted its position in Legacy Housing by 414.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,408 shares of the company’s stock worth $55,000 after buying an additional 1,940 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Legacy Housing by 179.6% during the 4th quarter. State of Alaska Department of Revenue now owns 3,470 shares of the company’s stock worth $67,000 after buying an additional 2,229 shares in the last quarter. Strs Ohio acquired a new position in Legacy Housing during the 1st quarter worth about $124,000. Finally, Aquatic Capital Management LLC grew its holdings in Legacy Housing by 2,156.0% during the 3rd 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. 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.