Legacy Housing (NASDAQ:LEGH) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Legacy Housing (NASDAQ:LEGH) from a hold rating to a buy rating in a research note published on Saturday morning, Zacks.com reports. They currently have $14.00 price target on the stock.
According to Zacks, “Legacy Housing Corporation builds, sells and finances manufactured homes distributed through independent retailers and company-owned stores as well as directly to manufactured housing communities. It operates primarily in the southern United States. Legacy Housing Corporation is based in Bedford, Texas. “
Separately, Oak Ridge Finl. reissued a buy rating on shares of Legacy Housing in a research note on Thursday, August 15th.
Legacy Housing (NASDAQ:LEGH) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.04. The firm had revenue of $45.76 million during the quarter, compared to the consensus estimate of $42.84 million. On average, equities research analysts forecast that Legacy Housing will post 1.22 EPS for the current fiscal year.
In other news, major shareholder William G. Shipley sold 4,000 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $12.87, for a total transaction of $51,480.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Curtis Drew Hodgson sold 100,000 shares of the business’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $12.98, for a total value of $1,298,000.00. The disclosure for this sale can be found here. Insiders have sold 235,345 shares of company stock worth $3,057,088 over the last ninety days.
Institutional investors have recently made changes to their positions in the company. Spark Investment Management LLC acquired a new stake in shares of Legacy Housing during the first quarter worth $210,000. Northern Trust Corp acquired a new stake in shares of Legacy Housing during the fourth quarter worth $123,000. Teton Advisors Inc. raised its position in shares of Legacy Housing by 21.3% during the second quarter. Teton Advisors Inc. now owns 49,500 shares of the company’s stock worth $616,000 after purchasing an additional 8,700 shares during the period. Gabelli Funds LLC raised its position in shares of Legacy Housing by 22.2% during the second quarter. Gabelli Funds LLC now owns 20,400 shares of the company’s stock worth $254,000 after purchasing an additional 3,700 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Legacy Housing during the first quarter worth $46,000. 19.14% of the stock is currently owned by institutional investors.
Legacy Housing Company Profile
Legacy Housing Corporation builds, sells, and finances manufactured homes and tiny houses primarily in the southern United States. The company manufactures and provides for the transport of mobile homes; and offers wholesale financing to dealers and mobile home parks, as well as a range of homes, including 1 to 5 bedrooms, with 1 to 3 1/2 bathrooms.
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