Legacy Housing (NASDAQ:LEGH) Given New $27.00 Price Target at B. Riley Financial

Legacy Housing (NASDAQ:LEGH) had its price target increased by B. Riley Financial from $24.00 to $27.00 in a research report released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also commented on the stock. Wall Street Zen upgraded shares of Legacy Housing from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Zacks Research cut shares of Legacy Housing from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of Legacy Housing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Legacy Housing currently has a consensus rating of “Hold” and a consensus target price of $27.00.

Legacy Housing Trading Down 2.2%

Shares of LEGH opened at $29.08 on Wednesday. The firm has a market cap of $691.52 million, a PE ratio of 11.14 and a beta of 0.78. The company’s 50 day simple moving average is $28.49 and its 200-day simple moving average is $24.78. Legacy Housing has a 12-month low of $18.28 and a 12-month high of $39.38.

Legacy Housing (NASDAQ:LEGH) last announced its earnings results on Wednesday, November 4th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Legacy Housing had a net margin of 30.06% and a return on equity of 11.34%. The business had revenue of $69.70 million for the quarter, compared to analysts’ expectations of $63.12 million. As a group, equities research analysts forecast that Legacy Housing will post 2.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Legacy Housing

Several large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Legacy Housing during the second quarter worth $16,714,000. Philadelphia Financial Management of San Francisco LLC purchased a new position in Legacy Housing in the 2nd quarter valued at $11,937,745. Punch & Associates Investment Management Inc. purchased a new position in Legacy Housing in the 2nd quarter valued at $11,235,000. Bard Associates Inc. acquired a new position in Legacy Housing in the 2nd quarter valued at $4,720,000. Finally, J. Goldman & Co LP acquired a new position in Legacy Housing in the 2nd quarter valued at $582,000. Hedge funds and other institutional investors own 89.35% of the company’s stock.

About Legacy Housing

Legacy Housing Corporation manufactures and sells affordable manufactured homes. Its product offerings include single-section and multi-section homes designed for residential use, as well as park-model homes. The company sells homes through a network that includes independent retailers and manufactured-home community operators, and it also works with developers on housing projects. Legacy’s operations are based in Texas, and its homes serve customers in multiple U.S. markets. Founded in 2005, Legacy Housing is headquartered in Bedford, Texas.