Legacy Housing (NASDAQ:LEGH) Upgraded at Zacks Research

Zacks Research upgraded shares of Legacy Housing (NASDAQ:LEGH) from a strong sell rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Legacy Housing in a research report on Monday, December 22nd. B. Riley decreased their price objective on Legacy Housing from $26.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Finally, CJS Securities downgraded Legacy Housing from a “market outperform” rating to a “market perform” rating in a research report on Tuesday, November 11th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Legacy Housing currently has an average rating of “Hold” and a consensus target price of $21.00.

Legacy Housing Price Performance

NASDAQ:LEGH opened at $22.08 on Monday. Legacy Housing has a 1-year low of $18.83 and a 1-year high of $29.45. The company has a 50-day moving average of $20.16 and a 200 day moving average of $23.24. The firm has a market cap of $527.05 million, a PE ratio of 11.32 and a beta of 0.81.

Legacy Housing (NASDAQ:LEGH) last posted its quarterly earnings results on Friday, November 7th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.22). Legacy Housing had a net margin of 26.66% and a return on equity of 9.47%. The business had revenue of $40.48 million during the quarter, compared to the consensus estimate of $45.53 million.

Institutional Investors Weigh In On Legacy Housing

A number of large investors have recently modified their holdings of the business. Exchange Traded Concepts LLC raised its position in shares of Legacy Housing by 25.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 12,752 shares of the company’s stock valued at $249,000 after purchasing an additional 2,613 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in Legacy Housing by 197.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 44,974 shares of the company’s stock valued at $1,237,000 after purchasing an additional 29,856 shares in the last quarter. Voss Capital LP increased its stake in Legacy Housing by 1.6% during the 3rd quarter. Voss Capital LP now owns 1,067,249 shares of the company’s stock valued at $29,360,000 after purchasing an additional 17,249 shares in the last quarter. Quarry LP purchased a new position in shares of Legacy Housing in the third quarter worth $26,000. Finally, Punch & Associates Investment Management Inc. lifted its stake in shares of Legacy Housing by 2.3% during the third quarter. Punch & Associates Investment Management Inc. now owns 429,110 shares of the company’s stock worth $11,805,000 after buying an additional 9,590 shares during the period. Hedge funds and other institutional investors 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.