Legacy Housing (NASDAQ:LEGH) Cut to Hold (C+) at Weiss Ratings

Weiss Ratings cut shares of Legacy Housing (NASDAQ:LEGH) from a buy (b-) rating to a hold (c+) rating in a research report report published on Saturday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded Legacy Housing from a “sell” rating to a “hold” rating in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Legacy Housing currently has a consensus rating of “Hold” and an average price target of $26.00.

Legacy Housing Price Performance

LEGH opened at $23.99 on Friday. The business’s 50-day moving average is $26.11 and its two-hundred day moving average is $24.37. Legacy Housing has a 1 year low of $20.85 and a 1 year high of $29.45. The firm has a market capitalization of $572.64 million, a PE ratio of 10.71 and a beta of 0.81.

Legacy Housing (NASDAQ:LEGH) last posted its earnings results on Thursday, August 7th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. Legacy Housing had a return on equity of 11.11% and a net margin of 30.00%.The company had revenue of $50.20 million for the quarter, compared to analyst estimates of $43.53 million.

Institutional Investors Weigh In On Legacy Housing

Several institutional investors have recently added to or reduced their stakes in LEGH. Teacher Retirement System of Texas acquired a new stake in Legacy Housing in the first quarter worth about $698,000. Cerity Partners LLC boosted its holdings in Legacy Housing by 11.8% in the first quarter. Cerity Partners LLC now owns 117,825 shares of the company’s stock worth $2,972,000 after acquiring an additional 12,406 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in Legacy Housing by 2.0% in the first quarter. GW&K Investment Management LLC now owns 686,414 shares of the company’s stock worth $17,311,000 after acquiring an additional 13,720 shares in the last quarter. Koss Olinger Consulting LLC acquired a new stake in Legacy Housing in the first quarter worth about $658,000. Finally, Nuveen LLC acquired a new stake in shares of Legacy Housing during the first quarter worth about $545,000. Institutional investors and hedge funds own 89.35% of the company’s stock.

Legacy Housing Company Profile

Legacy Housing Corporation engages in the building, sale, and financing of manufactured homes and tiny houses primarily in the southern United States. It manufactures and provides for the transport of mobile homes, including 1 to 5 bedrooms with 1 to 3 1/2 bathrooms; and provides wholesale financing to dealers and mobile home parks, as well as retail financing to consumers.