Wall Street Zen Upgrades Legacy Housing (NASDAQ:LEGH) to “Strong-Buy”

Legacy Housing (NASDAQ:LEGH) was upgraded by Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other research firms have also issued reports on LEGH. Weiss Ratings upgraded shares of Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Zacks Research downgraded shares of Legacy Housing from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, B. Riley Financial reissued a “neutral” rating on shares of Legacy Housing in a research report on Thursday, May 14th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.00.

Legacy Housing Price Performance

NASDAQ LEGH opened at $29.20 on Friday. Legacy Housing has a fifty-two week low of $18.28 and a fifty-two week high of $31.34. The stock’s 50-day moving average is $25.78 and its two-hundred day moving average is $22.88. The firm has a market cap of $694.38 million, a P/E ratio of 13.46 and a beta of 0.78.

Legacy Housing (NASDAQ:LEGH) last announced its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.27. Legacy Housing had a return on equity of 9.53% and a net margin of 28.56%.The firm had revenue of $66.35 million during the quarter, compared to analysts’ expectations of $64.08 million. On average, equities analysts expect that Legacy Housing will post 2.32 EPS for the current year.

Institutional Trading of Legacy Housing

Several institutional investors have recently modified their holdings of the company. Quarry LP acquired a new position in shares of Legacy Housing in the third quarter valued at $26,000. Tower Research Capital LLC TRC boosted its stake in Legacy Housing by 414.5% during the second 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 boosted its stake in Legacy Housing by 179.6% during the fourth 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. Aquatic Capital Management LLC increased its holdings in Legacy Housing by 2,156.0% in the 3rd quarter. Aquatic Capital Management LLC now owns 4,873 shares of the company’s stock valued at $134,000 after buying an additional 4,657 shares during the period. Finally, Strs Ohio bought a new stake in Legacy Housing in the 1st quarter valued at $124,000. Institutional investors and hedge funds 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.