Legacy Housing (NASDAQ:LEGH) Rating Lowered to Hold at Zacks Research

Legacy Housing (NASDAQ:LEGH) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other research firms have also commented on LEGH. B. Riley Financial reiterated a “neutral” rating on shares of Legacy Housing in a research note on Thursday, May 14th. 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. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.00.

Legacy Housing Price Performance

LEGH opened at $26.39 on Wednesday. The firm has a market capitalization of $627.61 million, a PE ratio of 14.83 and a beta of 0.79. The business’s 50-day moving average is $25.31 and its two-hundred day moving average is $22.65. Legacy Housing has a 1 year low of $18.28 and a 1 year high of $29.45.

Legacy Housing (NASDAQ:LEGH) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. Legacy Housing had a net margin of 26.01% and a return on equity of 8.08%. The business had revenue of $34.37 million during the quarter, compared to analyst estimates of $38.82 million. As a group, sell-side analysts expect that Legacy Housing will post 2.32 EPS for the current year.

Institutional Investors Weigh In On Legacy Housing

A number of large investors have recently bought and sold shares of the company. Quarry LP acquired a new position in Legacy Housing in the 3rd quarter worth approximately $26,000. Tower Research Capital LLC TRC lifted its stake 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 valued at $55,000 after acquiring an additional 1,940 shares during the period. State of Alaska Department of Revenue lifted its stake 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 valued at $67,000 after acquiring an additional 2,229 shares during the period. Aquatic Capital Management LLC lifted its stake 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 valued at $134,000 after acquiring an additional 4,657 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Legacy Housing in the 1st quarter valued at $124,000. Hedge funds and other institutional investors own 89.35% of the company’s stock.

Legacy Housing Company Profile

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.