Legacy Housing Corp (NASDAQ:LEGH) Receives Average Rating of “Strong Buy” from Brokerages

Shares of Legacy Housing Corp (NASDAQ:LEGH) have been assigned an average broker rating score of 1.00 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy rating.

Analysts have set a 12 month consensus price target of $19.00 for the company and are expecting that the company will post $0.23 EPS for the current quarter, according to Zacks. Zacks has also given Legacy Housing an industry rank of 93 out of 255 based on the ratings given to related companies.

Several analysts have recently commented on the company. Oak Ridge Finl. restated a “buy” rating on shares of Legacy Housing in a report on Thursday, August 15th. B. Riley initiated coverage on shares of Legacy Housing in a report on Friday, November 15th. They set a “buy” rating and a $18.00 target price for the company. Zacks Investment Research downgraded shares of Legacy Housing from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Finally, Lake Street Capital began coverage on shares of Legacy Housing in a research note on Tuesday, September 17th. They issued a “buy” rating on the stock.

In other Legacy Housing news, Chairman Curtis Drew Hodgson sold 1,600,000 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $14.33, for a total value of $22,928,000.00. Also, CEO Kenneth E. Shipley sold 6,650 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $15.97, for a total transaction of $106,200.50. Insiders have sold a total of 1,660,703 shares of company stock valued at $23,887,065 over the last quarter. 49.10% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in Legacy Housing by 8.1% during 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 in the last quarter. California State Teachers Retirement System increased its position in Legacy Housing by 25.0% in 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 stake in Legacy Housing by 64.2% during the 3rd quarter. Barclays PLC now owns 5,109 shares of the company’s stock worth $83,000 after buying an additional 1,997 shares during the period. Teton Advisors Inc. raised its stake in Legacy Housing by 6.5% during the 3rd quarter. Teton Advisors Inc. now owns 52,700 shares of the company’s stock worth $854,000 after buying an additional 3,200 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in Legacy Housing by 22.2% in the second quarter. Gabelli Funds LLC now owns 20,400 shares of the company’s stock worth $254,000 after acquiring an additional 3,700 shares in the last quarter. 16.68% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:LEGH opened at $16.00 on Friday. The firm has a market capitalization of $395.57 million and a P/E ratio of 14.95. 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 has a 12-month low of $8.93 and a 12-month high of $17.40. The firm has a fifty day moving average of $15.55 and a two-hundred day moving average of $14.11.

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

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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