Legacy Housing (NASDAQ:LEGH) Cut to Market Perform at CJS Securities

CJS Securities cut shares of Legacy Housing (NASDAQ:LEGH) from a market outperform rating to a market perform rating in a research report released on Tuesday morning, MarketBeat.com reports.

Separately, Weiss Ratings lowered shares of Legacy Housing from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Legacy Housing currently has a consensus rating of “Hold” and a consensus target price of $21.00.

Legacy Housing Price Performance

Shares of Legacy Housing stock opened at $20.02 on Tuesday. Legacy Housing has a one year low of $19.69 and a one year high of $29.45. The stock’s 50-day moving average is $24.60 and its 200 day moving average is $24.16. The firm has a market cap of $477.88 million, a price-to-earnings ratio of 10.27 and a beta of 0.80.

Legacy Housing (NASDAQ:LEGH) last issued its earnings results on Friday, November 7th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.22). Legacy Housing had a return on equity of 9.47% and a net margin of 26.66%.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

Several hedge funds and other institutional investors have recently modified their holdings of LEGH. Teacher Retirement System of Texas bought a new position in shares of Legacy Housing in the 1st quarter worth $698,000. Cerity Partners LLC increased its stake in Legacy Housing by 11.8% during the 1st quarter. Cerity Partners LLC now owns 117,825 shares of the company’s stock valued at $2,972,000 after purchasing an additional 12,406 shares in the last quarter. GW&K Investment Management LLC raised its holdings in Legacy Housing by 2.0% during the first quarter. GW&K Investment Management LLC now owns 686,414 shares of the company’s stock worth $17,311,000 after buying an additional 13,720 shares during the last quarter. Koss Olinger Consulting LLC bought a new position in shares of Legacy Housing in the first quarter valued at $658,000. Finally, Nuveen LLC bought a new position in shares of Legacy Housing in the first quarter valued at $545,000. Institutional investors 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.