ValuEngine upgraded shares of Legacy Housing (NASDAQ:LEGH) from a sell rating to a hold rating in a research note released on Tuesday, ValuEngine reports.

Several other brokerages have also issued reports on LEGH. B. Riley started coverage on Legacy Housing in a research report on Friday, November 15th. They set a buy rating and a $18.00 target price for the company. Zacks Investment Research raised Legacy Housing from a strong sell rating to a hold rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $16.00.

NASDAQ LEGH traded down $0.07 on Tuesday, reaching $14.67. The company had a trading volume of 67 shares, compared to its average volume of 27,974. The stock has a market capitalization of $356.26 million and a P/E ratio of 13.79. The company’s fifty day moving average is $15.56 and its 200 day moving average is $14.81. Legacy Housing has a 52-week low of $8.93 and a 52-week high of $17.50. The company has a quick ratio of 0.75, a current ratio of 1.57 and a debt-to-equity ratio of 0.02.

Legacy Housing (NASDAQ:LEGH) last released its quarterly earnings results on Friday, November 15th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.07). The company had revenue of $41.94 million during the quarter, compared to analysts’ expectations of $44.22 million. Legacy Housing had a net margin of 15.45% and a return on equity of 12.12%. On average, research analysts expect that Legacy Housing will post 1.13 EPS for the current year.

In other news, Chairman Curtis Drew Hodgson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.08, for a total transaction of $160,800.00. Following the completion of the sale, the chairman now directly owns 2,690,734 shares of the company’s stock, valued at approximately $43,267,002.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder William G. Shipley sold 3,941 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $15.32, for a total value of $60,376.12. Following the sale, the insider now directly owns 3,241,306 shares of the company’s stock, valued at $49,656,807.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,900 shares of company stock valued at $1,263,761. Insiders own 49.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Legacy Housing by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,330 shares of the company’s stock worth $179,000 after purchasing an additional 1,072 shares during the period. California State Teachers Retirement System raised its holdings in shares of Legacy Housing by 25.0% during the 3rd quarter. California State Teachers Retirement System now owns 8,993 shares of the company’s stock valued at $146,000 after buying an additional 1,800 shares in the last quarter. Barclays PLC raised its holdings in shares of Legacy Housing by 64.2% during the 3rd quarter. Barclays PLC now owns 5,109 shares of the company’s stock valued at $83,000 after buying an additional 1,997 shares in the last quarter. Teton Advisors Inc. raised its holdings in shares of Legacy Housing by 6.5% during the 3rd quarter. Teton Advisors Inc. now owns 52,700 shares of the company’s stock valued at $854,000 after buying an additional 3,200 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in shares of Legacy Housing during the 1st quarter valued at about $46,000. 16.60% of the stock is owned by hedge funds and other 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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